""If this is real, no one should be surprised about leaks. Sure would be funny if it were pfe."
Someone dropped way over $1MM on short-term way-out-of-the-money options (the June 60s)."
Thanks, Rocky, Jim and Jon. Volume today on SEPR June calls in the $50-60 strikes totalled 29,129 contracts. For July 50-60 calls, there were 11,460 contracts traded. All of these represent just over 4,000,000 shares, and there is a faint buzzer in my head reminding me that the company's last convertible was around 4mm shares.
In the news today, there was a rehashed article about what Glaxo could lose to Xopenex when CFC inhalers go off the market in 2008, so perhaps there could be GSK speculation as well as PFE. Before options expiration on 6/16, SEPR will present at Credit Suisse and Goldman Sachs Healthcare conferences.
In re: some other options -- nothing remarkable in SEPR puts, nor longer dated calls (except OCT $65, 2377 volume, 1347 OI). Not much activity in NBIX.
Finally, Pfizer wouldn't have to resolve anything with Neurocrine in order to make a deal with Sepracor, would they? |
