EMC (EMC) was up over 7% today in anticipation of tomorrow's VMware (VMW) IPO. EMC closed at 19.05 making up for some of the ground lost last week. EMC is now within striking range of its 52 week high of 19.84.
EMC experienced heavy call volume with about 11 times as many calls traded vs puts. Particularly active were August 19 calls. These options expire at the end of the week, so the premium is basically "VMware anticipation premium."
VMware's has already been referred to as the "new Google." It has been referred to as the hottest IPO of the summer, and even the "hottest IPO of the year."
Although the price range for the IPO has been set at $27 to $29 per share, predictions about Vmware's price when shares begin trading have been as high as $45 or even $60 from Cramer.
Monday, August 13, 2007
Subscribe to:
Post Comments (Atom)
0 comments:
Post a Comment