Unusual Options Activity in Wyeth (WYE)

Posted in Options 
August 4th, 2009

Wyeth (NYSE: WYE) just saw some unusual options activity this morning.  This is out to the OCT-2009 CALLS, but the $47.50 Call Strike price has seen 20,155 contracts trade hands.  The open interest was listed as 48,035 contracts.  On a fully leveraged basis, this would represent a bet of 2 million shares.  This single-strike volume is also representative of more trading volume in all visible contracts so far for Wyeth among the August, September, and October PUT and CALL contracts combined.  We are seeing no real action in Wyeth shares of common stock.  We show this is up $0.03 at $46.89 on only 2.37 million shares against 10.6 million shares on average per day.

UPDATE: 11:40 AM EST… We have asked around and no real secondary share or option moves are expected or known about.  This appears to be a closing out or change on a bet around the pending Pfizer merger.


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