Plenty of takeover speculation about Palm, but is there much premium? Over 3000 May 22-1/2 calls have traded today. Unstrung.com says a deal could be struck and announced by Thursday at "$20 or more". The "or more" part is the tricky issue. In looking through past analyst comments I'm hard pressed to believe "or more" means anything that will be beneficial for those May 22-1/2 call buyers. Sure, they could know more than I do - we'll see.
It is intriguing that Motorola's chief cancelled an important speech which only served to stoke speculative fervor that MOT will be the buyer of Palm. Maybe the lemonade from potential lemon May 22-1/2 calls would be a bidding war for Palm between Motorola and Nokia? That seems far fetched given the fading franchise that the Treo et al has become.