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By Jon "DRJ" Najarian, co-founder of OptionMonster.
McDermott International(MDR Quote) is seeing heavy options activity amid rumors that PetroChina(PTR Quote) is interested in buying the engineering and construction company.
Normal call activity for McDermott in the 30 days has been 5,100 contracts for a full session, but today some 22,400 contracts traded in the first 30 minutes alone, according to OptionMonster's real-time tracking systems. The feeding frenzy saw 8,500 calls change hands at the May 20 strike against open interest of just 1,506. ...
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