Call options are heating up in Amgen, which is up slightly Monday in a sluggish market.
As AMGN trades at about $55.20 the Febuary 57.5 and 60 calls are drawing a few nibbles, but most of today's action involves the Febuary 65 calls that are going for just $0.06 and $0.08. That strike has seen 5,000 contracts trade in a single print, according to OptionMonster's tracking systems.
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The pharmaceutical and biotech industries are consolidating, and Amgen is just one of many names often mentioned as candidates for some kind of M&A deal.
The company has a large market cap that would make it an expensive target, but it does come with drugs on the market and an active pipeline. Amgen reported quarterly earnings last week that were generally viewed as positive.
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