So every time options trading explodes it is due to impending terrorism?
Or is that only for Puts?
More than a few people were speculating that a buyout was in the offing (and quite a few speculated that it was just a rumor). They accomplished this "speculation" by buying and selling BB&T stock. Those who were willing to make a bigger bet(or perhaps needed a hedge) did so with Puts & Calls.
It doesn't mean they knew what was going to happen.
Dixie, think you're right. Let's call it a rumor rally to this point. If it gets back to 39-40 with no positive surprises from the company and stays awhile, that would tell me there may be a fire behind all this smoke.
I think that BBT is on the verge of something we are all speculating on and I have been following the buying sizes, and note that the volume of trades is way up and the lot sizes are of the large varity, 20500,7100 etc etc, and all chomping at the bits to buy in the 36.00 plus range late in the last hours of trade. Of course it is up to each person to figure what is going to be the top price and how long he wants to hold out for it".. Personally I think the price is going to go "up" before it comes down much.