David Russell, analyst at OptionMonster.
About 75,000 options contracts traded on the name, more than 10 times the average over the last 20 sessions. About two-thirds of the volume is in calls, according to OptionMonster's tracking systems.
Most of the buying is focused on options expiring this month and next. Some 21,500 contracts have changed hands for the April 55 strikes, plus another 13,400 for the April 60 strikes. Both contracts, plus the May 60 calls, traded in volumes that exceeded open interest.Biogen Idec stock rose 6.5% today to $52.85 on volume of about 6.4 million, almost twice the average level. Rumors circulated among European trading desks suggested French pharmaceuticals giant Sanofi-Aventis may offer to buy Biogen for at least $75 a share, according to Reuters.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV