Major Options Spike: Akamai Tech (AKAM)

Posted in General, Options 
August 22nd, 2008

Akamai Technologies Inc. (NASDAQ: AKAM) is seeing a very unusual options trading pattern today.  We have seen many call options trade hands as of 1:20 PM today, and it might actually be enough to get the watchers out who look for unusual options activity in battered tech stocks.  That is even more so the case when you consider how battered this tech stock has been.  These are in out of the money call options for current month runs as these are SEP08 CALLS:

OPTION/STRIKE  Volume   OpInt
SEP08 $25.00    21,517    11,866
SEP08 $30.00    8,643      7,440

We are even seeing some further out contracts trade:

OPTION/STRIKE  Volume  OpInt
OCT08 $25.00    4,956    1,793
OCT08 $30.00    1,851    16
NOV08 $35.00   1,760    8,576
JAN09 $30.00    1,358    2,446
JAN09 $35.00    1,437    4,186

This is exponential call option activity in the stock today and we still have more than 2 and a half hours to the close.  Shares are up almost 6.5% at $24.02 on almost 6 million shares (average daily volume 6.15 million).  The 52-week trading range is $21.54 to $41.45.

JON OGG
AUGUST 22, 2008

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