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Textron Options Trade on Takeover Rumors
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Jon "DRJ" Najarian, co-founder of OptionMonster.
Options activity in Textron(TXT Quote) is crazy busy today as shares surge in heavy volume amid takeover rumors.
Shares of the aircraft maker bottomed at $4 or so in early March, but are up more than 9% to $8.11 in midday trading on merger and acquisition talk involving Raytheon(RTN Quote) and Lockheed Martin(LMT Quote). Textron is trading so far below its 52-week high of more than $65. Even with today's pop, buyout interest might make sense. ...
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