Volume Spike Investor

We are seeing a flurry of Call Options activity in shares of Yahoo! (NASDAQ: YHOO) on renewed hopes that Microsoft (NASDAQ: MSFT) really may want to come back to the table…. IF Carl Icahn can get that board of directors fired. Here are the options snapshots for the near months (July and August) CALL OPTIONS trading as of 10:13 AM EST:

CONTRACT/STRIKE Volume OpInt
JUL08 $20.00 CALLS 1,325 24,212
JUL08 $22.50 CALLS 5,686 62,101
JUL08 $25.00 CALLS 8,221 112,594
JUL08 $27.50 CALLS 1,800 207,924
AUG08 $25.00 CALLS 4,152 40,960
AUG08 $27.50 CALLS 1,064 8,940

Yahoo options are frequently among the most actives, bu the volume here is just steadily rising. We’d alert that anyone hoping for that old $33 buyout offer even if Microsoft comes back would be analogous to making Dr. Pangloss look like Doubting Thomas.

Yahoo! shares themselves are also active. We have seen a 10% rise to $23.56 on already more than 50% of a normal trading day’s entire volume (in under 45 minutes).

Jon Ogg
July 7, 2008