Rumor/Chatter and Options Drive STEC Shares (STEC)

Posted in General, Options 
October 5th, 2010

STEC, Inc. (NASDAQ: STEC) is no stranger to buyout rumors and positive talk around the company, but that is what is driving the stock today in both the common shares AND the stock options.  STEC designs, makes and sells enterprise-class flash solid-state drives for high-performance storage and server systems.

In Options for OCT-2010 CALLS:
$13.00 CALLS saw 6,995 contracts vs. 3,056 open interest
$14.00 CALLS saw 3,779 contracts vs. 4,754 open interest

There have also been over 2,000 CALLS tarded among various contract strike prices for NOV-2010 and the JAN-2011 $12.50 CALLS have seen almost 2,700 contracts trade versus an open interest of 8,743 contracts.

At 12:54 PM EST we have shares up over 8% at $13.09 on almost 3 million shares versus an average volume of 2.1 million shares.  The 52-week trading range is $9.47 to $28.88.


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