Lexmark (LXK) options activity suggests the Dell (DELL) takeover chatter may not be far off the mark.
Lexmark refuses to comment on the Dell speculation as a matter of policy and Dell has not returned calls seeking comment.
But one look to the options pit suggests something is afoot, Pete Najarian says. Investors were busy buying October, November and January call options in LXK. This is a stock that has been “absolutely crushed,” and is just starting to make some headway. If you want in, Pete suggests the November calls as a way to “give you some time.”
______________________________________________________ Trader disclosure: On Oct 10, 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders Macke Owns (DIS), (INTC); Pete Najarian Owns (LXK), (ZMH), (VCLK), (GOOG); Finerman's Firm And Finerman Own (TEL), (TYC); Finerman's Firm Owns (COP), (DAI), (MSFT), (NVT), (TGT), (WMT), (YHOO); Finerman's Firm Owns S&P 500 Puts; Finerman's Firm Owns Russell 2000 Puts; Seygem Asset Management Owns (AA), (F), (GLD), (IRBT), (MSFT), (SBUX), (SSL); Seygem Asset Management Is Short (TKC); Lukoil Trades Over The Counter In The U.S. But Trades On The Exchange In London; Jon Najarian Owns (GOOG), (YHOO), (BHI)
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