Akamai Technologies, Inc. (NASDAQ: AKAM) looks harmless enough today in its trading as the stock is up about 1.5% at $37.20. That is on only 1.3 million shares against a normal day’s volume of over 4 million shares. Where this gets interesting is in the call options trading volume.
We have seen 1,210 call options in the March 2012 $37 strike price trade against a prior open interest of only 1,401 contracts. It is the April call options where he volume gets interesting. We have seen 4,664 of the April $40 Calls trade against 543 contracts in the prior open interest. There has also been some 2,008 contracts trade in the April $41 Calls against a prior open interest of 215 contracts.
We have not seen any fresh rumors, nor do we want to propagate any new rumors. That being said, Akamai has been a rumored takeover target at many points in the past as it is the internet’s content acceleration machine. It physically locates and hosts content at centers closer to online media users to accelerate the speed.
We did find one other issue out there: The blog at Schaeffer’s noted, “Call volume has skyrocketed today on Akamai Technologies, Inc., with roughly 10,000 contracts changing hands so far. As a point of comparison, AKAM’s average daily call volume totals fewer than 2,900 contracts — and only 956 puts have crossed the tape, at last look.”
JON C. OGG
Is Your Money Earning the Best Possible Rate? (Sponsor)
Let’s face it: If your money is just sitting in a checking account, you’re losing value every single day. With most checking accounts offering little to no interest, the cash you worked so hard to save is gradually being eroded by inflation.
However, by moving that money into a high-yield savings account, you can put your cash to work, growing steadily with little to no effort on your part. In just a few clicks, you can set up a high-yield savings account and start earning interest immediately.
There are plenty of reputable banks and online platforms that offer competitive rates, and many of them come with zero fees and no minimum balance requirements. Click here to see if you’re earning the best possible rate on your money!
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
