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Sepracor, BofA, Take-Two: Options Recap

OptionMonster co-founder Pete Najarian provides options picks Monday, Wednesday and Friday in TheStreet.com's Deep in the Money Calls newsletter.

David Russell, reporter for OptionMonster

NEW YORK ( TheStreet) - The following stories ran Wednesday on OptionMonster.com.

Sepracor surges on takeover report: Stock and options volumes are exploding in Sepracor (SEPR) on a report the drugmaker would be acquired by a Japanese company for $2.7 billion.

Bulls deposit in Bank of America: A call spread is the largest options trade on Bank of America (BAC - Get Report) Wednesday and will earn a maximum profit of 198% if the stock closes at or above $21 by expiration.

'Straddle' trade in Take-Two: The videogame maker Take-Two (TTWO - Get Report) snaps higher on a good earnings report, but one investor is positioning for the stock to stay put.

Oracle draws heavy put buying: Traders are turning bearish on Oracle (ORCL - Get Report) Wednesday after antitrust concerns arose about its acquisition of Sun Microsystems (JAVA), which is also losing market share according to a new report.

Traders betting Goldcorp will fall: Investors are aggressively positioning for a potential decline in the mining company Goldcorp (GG - Get Report), purchasing September puts in large volume.

Options expect Virgin Mobile to hold: Shares of Virgin Mobile (VM) are pulling back again, but one large trade is looking for levels to hold through the end of the year.

Large spread on Russell 2000: The Russell 2000 topped out Friday, and one institutional trader is placing a large spread bet in small-cap index over the short term.

Bulls target Intrepid Potash: Options action is turning bullish on Intrepid Potash (IPI) as investors look for the fertilizer company to rally over the next three weeks.

-- Reported by David Russell of OptionMonster in New York.

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SYM TRADE IT LAST %CHG
BAC $15.38 -0.06%
GG $18.94 4.50%
ORCL $43.05 -0.23%
TTWO $24.82 -2.50%
AAPL $123.80 -0.51%

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