Unusual Options Activity in Southwestern Energy (SWN)
While screening for weekly options to sell today, one name that stuck out like a sore thumb was Southwestern Energy (SWN) as implied volatility in the options expiring next week is up some 13% and the company just announced earnings will be released on October 27, which falls after October expiration. Clearly something is going on in the name, why all the sudden upside call buying (28k vs. 3k average)? M&A rumors of course…The latest is Exxon Mobil (XOM) for SWN with a target price north of $50 (unconfirmed). Looks like over 6k of the Oct 41 calls have been purchased on the day thus far.
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Hi,
Also heard about a bid round USD 60 last week…