Sun Sees Options Activity Increasing (JAVA, ORCL)

Posted in Options 
October 21st, 2009

Traders appear to be increasing their bets for and against an ultimate approval of the Sun Microsystems (NASDAQ: JAVA) and Oracle (NASDAQ: ORCL) deal based on the jawboning and fat-chewing that the European Commission is holding the merger up and only making Sun lose more money than it would have.  Here is the PUT OPTIONS TRADING:
NOV$    Volume    OpInt
8.00    1,685    2,346
9.00    9,014    19,128
JAN$    Volume    OpInt
6.00    33,535    176
7.50    0    39
7.50    3,074    37,983
9.00    1,492    31,777

There were also 14,050 traded of the JAN-2010 $10 CALLS, versus a prior open interest of 8,734 contracts; we also saw the NOV-2009 $9.00 CALLS trade some 4,366 contracts versus a prior open interest of 21,133 contracts.

JON C. OGG
OCTOBER 21, 2009

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