Cephalon Moves on Takeover Chatter (CEPH)

Shares of Biotech company Cephalon (NASDAQ: CEPH) are surging this afternoon on what appears is takeover chatter. Shares of (NASDAQ: CEPH) are up 1.97 @58.58. The 56 level proved solid support after a sharp downtrend. Cephalon company has been subject to takeover speculation for sometimes, as of today nothing has materialized.

Options traders focused on the 65 and 70 front month calls as well as back month OTM calls. 1500 calls traded vs 140 front month put.

Day's Range: 56.91 - 59.03
52wk Range: 53.05 - 72.87