The Options Scanner has been fairly quiet with most of the stuff coming up on it being weeded out. One thing that is striking is the activity in Fifth Third (FITB) calls with big volume in the 45 strikes across much of that chain. No news but a brief entry on theflyonthewall.com noting the heavy options as well. OptionsDoggy has been on top of it as well http://optionsdoggy.typepad.com/options_doggy/. One well connected trading desk tells me Wachovia (WB) is the name that has been popping up today for FITB. But that and $2 won't get you even a half cup at Starbuck's. I am long FITB and not recommending that you should be.
Yesterday Illionios Tool Works (ITW) rallied on takeover speculation. NY Times DealBook asks why a director would be selling shares. Good Question. http://dealbook.blogs.nytimes.com/2007/05/23/big-tool-deal-in-the-works/,
The call volume has been amazing today on Apple (AAPL). At one point the stock was up at 115 (all time high) and the June 125 calls were trading like hot cakes. But AAPL is well off the highs the day. Piper has a report out saying that iPod sales look light for May, according to NPD data.