Jon "DRJ" Najarian, co-founder of OptionMonster.Shares of Varian Medical Systems ( VAR - Get Report) are moving higher along with strong options activity amid takeover rumors. Varian is up some 5.7% to $33.19 in midday trading with heavy call volume. Average options turnover for Varian calls is an anemic 500 for a full session, but today more than 8,300 of the contracts changed hands in the first half hour of trading alone, according to OptionMonster's real-time tracking systems. German technology conglomerate Siemens ( SI) is rumored to be the possible suitor because it has the cash and a plausible reason for such a merger, needing exposure in the cancer therapy market. Siemens is said to be working on a new oncology platform, and Varian could be a good fit as it trades at just half its 52-week high of $65.84. Two independent sources say Siemens' offer could be in the neighborhood of $45 per share. The writer owns Varian stock and options.
TheStreet’s Fundamentals of Investing Course will teach you the keys to making the right decisions in any market.
TheStreet’s Personal Finance Essentials Course will teach you money management basics and investing strategies to help you avoid major financial pitfalls.
TheStreet Courses offers dedicated classes designed to improve your investing skills, stock market knowledge and money management capabilities.
More from Options
Striking Options: Gold, U.S. Dollar and a Market Bounce
Gold tests the lower end of its yearly range.
Here's Why I'm Drawn Toward Specialty Retail Stocks Like Lowe's
Although not completely immune to tariffs and Trade Wars, I could see LOW...escaping relatively unscathed.