Mid-day Flow Summary
Mid-day Flow Summary, 9 April 2007 12:00 ET
It is a generally quiet morning since the European markets are closed for the holiday.
Dendreon (DNDN)
Dendreon (DNDN) continues to exhibit high volume this morning. 166,000 contracts have traded so far, with over 20,000 each of the April 20 and 25 Calls. The stock is hard to borrow and has rallied more than $5 to $23.40 today. This probable short-squeeze has gained momentum as recent sellers of the 15, 17.5, and 20 strike calls are covering their positions at a loss. 21,000 April 20 Calls have traded this morning with most of the activity on the buying side. At the same time, a few brave sellers continue to sell out-of-the-money April 25 strike calls and 15 and 20 strike puts.
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Dollar General (DG)
About Henry Schwartz
Henry Schwartz has traded derivatives on US and European exchanges for nearly 20 years. His experience includes market-making and institutional trading at the Hull Group, Salomon Brothers, Bear Stearns and most recently Banc of America Securities, where he led the electronic market-making project coincident with the launch of the ISE. His current work involves real-time stream analysis of options market activity for a number of leading institutional sell-side firms.
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