Afternoon Options Trade - 02-11-08

A lot of action on Yahoo! calls today including the February 30s, the March 30s and the March 32.50s. I like the March 32.50s which are up 71% with a little over an hour to go in the day. The market is looking pretty good today also and could rally into the close would be good for this trade. Yahoo! has declined the Microsoft $42 Billion offer which was a 65% premium to the stock price at the time of the offer. Speculation is that Yahoo! is looking for something a little bit higher from the tech giant with tons of cash on hand.