Hewlett-Packard (NYSE: HPQ) is closed down $2.48 to $46.65.
The WSJ reported HPQ is in advanced talks to acquire Electronic Data Systems (NYSE: EDS) for between $12 billion and $13 billion according to sources.
HPQ call option volume of 59,863 contracts compares to put volume of 21,209 contracts. HPQ June option implied volatility of 35 is near its 26-week average of 33 according to Track Data, suggesting slightly larger price risk.
Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com
Before the bell: Further declines; MER downgraded, SNDK may be bought, BA, DELL, MO ...
Serious Money: How 'Stable' after 345 DJIA drop? -- CB, DIS, JNJ, TEVA & XEL
Is BT's offer to save Britain's red phone boxes for £500 fair?
