Clorox Up on Buyout Rumors (CLX, PG)

Posted in General, Options 
September 22nd, 2009

Clorox Corporation (NYSE: CLX) is trading up on elevated stock and even more elevated options trading.  The rumor is that Proctor & Gamble (NYSE: PG) is a possible suitor.  As of 2:20 PM EST we have seen 2.28 million shares trade hands for a 2.2% gain to $58.94, and average volume is only 1.36 million shares.

The real spike can be seen here in the OCT-2009 CALL OPTIONS:
CALL$    Volume  Op.Int.
60.00    16,732    4,859
65.00    2,052     1,598

There has also been some elevated activity in the NOV-2009 CALLS:
CALL$    Volume  Op.Int.
60.00    1,090     438
65.00    2,542       1

Jon C. Ogg
September 22, 2009

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