Adobe (ADBE) Call Buying on Microsoft (MSFT) Rumors. Dan Doesn’t Buy It, Buys Puts Instead

by CC May 17, 2011 11:09 am • Commentary


ADBE calls are seeing interest following MSFT for ADBE rumor. So far today 16.2K total calls have traded vs 1.6K total puts. Most notable are the ADBE May 35 calls (volume: 5880, open int: 2610, implied vol: ~39%, prev day implied vol: 31%)

Dan tells me on Instant Message that he just bought the May 34 Puts for .17. As a lotto ticket. He says:

I think tech gonna get hit. No way MSFT can buy these guys
buying skype
stock few % from 52 week highs
won’t last
report late june
date not set
could buy longer dated put spreads
looking to get dollar cheap exposure for this week once stock starts to go down will look to sell a lower put against it.