Houghton and Atkeson

   

Option volume in Tibco Software (TIBX), the infrastructure software provider, is running 10 times usual volume with the bulk of the activity in the TIBX Jan 7.50 Calls (OUGAU).

Upward of 3,000 of these contracts have traded, with participants moving the price from $1.55 to $1.65. And now, with the stock up over 3%, they are offered at $1.80.

This activity appears to be bullish and has us wondering why they are drinking the whiskey. There have been merger-and-acquisition rumors in the past, but this could be just a pickup in the fundamentals. Earnings for the company's May quarter are scheduled for the end of June.

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