Is Someone Talkin' to Chuck (SCHW)?
by Houghton and Atkeson 08/22/08
Normally, total option trading volume in Schwab (SCHW) is 3,000 contracts per day. But so far today, nearly 33,000 have traded. Is someone talkin' to Chuck?
Market participants have traded 20,000 of the SCHW Sept 25 Calls (SHQIE), starting at 35 cents and paying up to 75 cents. Other strikes in September as well as October are active, as traders are playing a rumor that SCHW is in play. Or, is it just Friday fishing?
Related Story -- "Investors Say They Like to 'Talk to Chuck'"
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