Live Action: Onyx Pharmaceuticals Inc (ONXX) calls
I just purchased some Onyx Pharmaceuticals Inc (ONXX) July 2005 $30 strike calls. There are rumours that Bayer may make a bid for Onyx Pharmaceuticals. Today, there is unusual options volume with July $30 options (calls volume: 2042, puts volume: 21) and August $30 options (calls volume: 1388, puts volume: 20).
The technical picture is also OK for ONXX, the resistance is at $27.77, shares are currently trading at $26.66.
The price for the calls was $0.75. There is a weekend coming, which is a little negative, because the options expirations comes closer without trading days ahead.