Since there's been so much odd options activity of late, I thought I'd draw your attention to another example of 'strange things are goin' on'.
United Rentals (URI) sees daily option volume of just over 1,400 contracts. Already today a couple thousand have traded in the May chain and out of the money and eclipsing open interest. This isn't breathtaking volume like AMR or others yesterday, but curious. Nearly 1700 May 35 changed hands vs open interest of 414. 171 May40s have traded vs open interest of 1 contract. Implied volatility has also been creeping higher.
Again, not a recommendation or suggestion to buy, but interesting given the speculative froth recently in various takeover names. URI is up about 3% today.
Sunoco (SUN) May85 calls also pop up on the Screener again with more takeover talk. Sunoco shares are up nearly $3.
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