AmerisourceBergen (ABC) options spike
by Houghton and Atkeson 04/22/09
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Options on Tuesday in AmerisourceBergen (ABC), the third-largest drug distributor, behind McKesson (MCK) and Cardinal Health (CAH), traded at nine-times usual volume.
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ABC reports tomorrow morning and market participants appear to be taking a bullish bet. 9,064 calls trade vs. 345 puts and most of the calls traded on the ask and opened. Sepcifically, institutional traders bought 5,000 ABC May 40 Calls (ABCEH) and ABC 3,000 May 35 Calls (ABCEG) with the stock closing at $34.57.
Deutsche Bank upgraded ABC last week. An analyst action in front of earnings can be omniscient -- is this one?
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