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Crude oil in New York was little changed in after-hours trading at $68.87 a barrel. Oil closed below $100 for the first time since its July 11, ...
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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
The Obama Adminstration has levied huge import tariffs on imported Chinese tires claiming that they are exported to the US in a manner which damages the American tire industry unfairly. As we asked in the UNUSUAL SUSPECTS this weekend, “Did President Obama just say, “Blue Horseshoe loves Goodyear?”…. Goodyear Tire & Rubber Co. (NYSE: GT) is up over 6% after the open and at 9:34 AM EST we have seen 495,000 shares trade hands. Elsewhere we see that Cooper Tire & Rubber Co. (NYSE: CTB) is up over 8% at $15.80 at the same time, but that is on under 200,000 shares of stock. -JON OGG
Ariad Pharmaceuticals Inc. (NASDAQ: ARIA) is one of the top gainers this morning after announcing the result of first interim analysis of Phase 3 ‘Succeed Trial’ of Oral Ridaforolimus in metastatic sarcoma… the independent Data Monitoring Committee of the Phase 3 SUCCEED trial has completed the first interim efficacy analysis and has recommended that it continues to full patient enrollment and completion. The safety data. At 8:50 AM EST shares are up close to 16% at $3.03 on over 800,000 shares. Average volume is 2.9 million shares. -JON OGG