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Options News Calls active in Black & Decker after takeover chatter

Calls active in Black & Decker after takeover chatter

Power Tools maker Black & Decker BDK, is seeing unusual call activity after renewed takeover chatter of the company getting a bid. Shares of BDK have rallied strong after hitting a low of $20.10 on March 9. Shares are currently trading down 1.3% at $28.20. The call buying seems to be only due to the take over chatter as shares technically set up as a typical countertrend trend seeing resistance at the $30 level and meeting the 50 sma.

According to our Option Sonar, options activity is 5x the daily activity with 13k calls changing hands vs 595 puts. Seeing the most interest is the April 30 call strike where 6,236 calls traded against an open interest of 1,222. Call buying has only taken the offer 45% of the time and institutional money doesn't look to be involved. 
bdk32409
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  • Josh Belanger

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    by Josh Belanger about an hour ago

  • Josh Belanger

    RT @geckler: Email descrip & offer to info@fairhavenadvisors.com and I'll help ya out. Pro copy & financials funds won't laugh at or ignore.

    by Josh Belanger about 2 hours ago

  • Josh Belanger

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    by Josh Belanger about 2 hours ago

  • Josh Belanger

    no follow through to the downside late afternoon on the $ES_F and they are ripping it into the chicago close

    by Josh Belanger about 3 hours ago

  • Josh Belanger

    $DTV seeing Large action in the June 40 calls strike 40k traded late orders with a few large blocks of equity hitting looks like a buy write

    by Josh Belanger about 4 hours ago