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Article: Questions raised on 3Com trading
- Article from:
- The Boston Globe (Boston, MA)
- Article date:
- November 13, 2009
- Author:
CopyrightCopyright 2009 The Boston Globe. Provided by ProQuest LLC. (Hide copyright information)
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NEW YORK - Analysts say good timing alone doesn't account for
trading in bullish 3Com Corp. options Wednesday, which gained as
much as 315 percent yesterday.
Volume in contracts to buy shares of the company, based in
Marlborough, surged to the highest level since September 2007 before
Hewlett-Packard Co. said it would buy the maker of computer-
networking equipment for $2.7 billion.
"I don't believe in that much luck," said Steve Claussen, chief
investment strategist at OptionsHouse LLC, the Chicago-based online
brokerage unit of options trading firm PEAK6 Investments LP, and a
former market maker at the Chicago Board Options Exchange. "If
you're on the other side of someone buying calls ...