Just a quick note about Anheuser Busch (BUD) which at one point earlier today was up $1. BUD popped up on the Options Screener this past weekend. Today more than 10,000 July 55 calls have traded on no news. It's one to keep an eye on.
Options activity has been completely dead in Cadence Design (CDNS) yet a few well placed sources on the West Coast continue to say the NY Times report on June 4, 2007 of a potential buyout was not fiction. The takeout price that has recently been mentioned is $28 a share. That's another one to watch.
Also Applebees (APPB) options volatility has move up today. Merrill Lynch says major announcements are likely in the next few weeks that could get APPB to the $30 level. Other sources are saying that instead of a buyout, APPB could pay a special dividend to shareholders.