Takeover Talk Drives Options Action

{ Posted on Apr 07 2009 by Minyanville }
Options Action Here are some names that are seeing some above-average volume or notable trading activity. Shares of Textron (TXT) are up another 6% today and have gained over 40% to $8.80 in the past 5 trading sessions. There's persistent takeover talk of the maker of corporate jets and Bell helicopters. Likely suitors being named include Lockheed-Martin (LMT) Raytheon (RTN) and United Technologies (UTX). The focus on Textron option activity resides in the April $9 and $10 call and the May $12.50 call. All have seen open interest more than double over the past 3 days and today each strike again ...

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