Dendreon Corp. (NASDAQ: DNDN) is surging on exponential volume today as traders are speculating, and hoping, that the company will become a takeover target. The word today is over hopes of a “European drug/bio/ buyer”. At 2:05 PM EST we have shares up almost 12% at $26.69 and volume is exponential at 8.8 million shares vs. average volume of 2.8 million shares. The real interest though is in the CALL options, particularly when you look at the SEPT-2009 CALL activity below. These expire this coming Friday.
Strike Volume Op.Int.
$24.00Â Â Â 3,289Â Â Â 4,477
$25.00Â Â Â 15,477Â Â Â 15,844
$26.00Â Â Â 7,338Â Â Â 4,251
$27.00Â Â Â 1,854Â Â Â 2,814
$28.00Â Â Â 1,955Â Â Â 5,963
$29.00Â Â Â 677Â Â Â 2,338
$30.00Â Â Â 4,537Â Â Â 7,709
Here is the OCT-2009 Options activity:
Strike Volume Op.Int.
$24.00Â Â Â 1,269Â Â Â 2,610
$25.00Â Â Â 1,056Â Â Â 2,156
JON C. OGG
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