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Options Update: Sun Microsystems volume spikes as shares rally 86%

Posted Mar 18th 2009 12:45PM by Paul FosterPaul Foster RSS Feed
Filed under: International Business Machines (IBM), Sun Microsystems (JAVA), Options

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Sun Microsystems, Inc. (NASDAQ: JAVA) was recently trading up $4.26 to $9.23. The WSJ reported that IBM was likely to pay between $10 and $11 per share this week for JAVA. JAVA March 8 straddle closed at $1.73, April 9 straddle closed at $1.82. April call option implied volatility was at 73, puts were at 79; near its 26-week average of 80. JAVA call option volume of 132,877 contracts compared to put volume of 82,254 contracts according to Track Data, suggesting traders taking positions on expectations of large price movement.

Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com

Tags: ibm, option implied volatility, OptionImpliedVolatility

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Last updated: November 27, 2009: 03:59 PM

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