Dendreon Stock and Options Go Exponential (DNDN)

Posted in General, Options 
September 14th, 2009

Dendreon Corp. (NASDAQ: DNDN) is surging on exponential volume today as traders are speculating, and hoping, that the company will become a takeover target.  The word today is over hopes of a “European drug/bio/ buyer”.  At 2:05 PM EST we have shares up almost 12% at $26.69 and volume is exponential at 8.8 million shares vs. average volume of 2.8 million shares.  The real interest though is in the CALL options, particularly when you look at the SEPT-2009 CALL activity below.  These expire this coming Friday.

Strike Volume  Op.Int.
$24.00    3,289    4,477
$25.00    15,477    15,844
$26.00    7,338    4,251
$27.00    1,854    2,814
$28.00    1,955    5,963
$29.00    677    2,338
$30.00    4,537    7,709
Here is the OCT-2009 Options activity:
Strike Volume  Op.Int.
$24.00    1,269    2,610
$25.00    1,056    2,156

JON C. OGG

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