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Novellus Draws Calls; Public Storage Sees Puts

Stock quotes in this article: NVLS , PSA , CSCO , SMH  

Novellus

By Jon "DRJ" Najarian, cofounder of OptionMonster.

Novellus (NVLS Quote) is seeing strong call activity even though its shares are trading lower as takeover rumors are circulating on the trading floors.

More than 7,000 calls traded against 575 puts this morning, dwarfing the average December call volume of 810 contracts per day, according to OptionMonster's tracking systems. Volume was also heavy in the NVLS shares themselves, exceeding a third of their average volume in the first hour of trading alone. ...

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