I'll have more on this later on tonight and this weekend. AT&T has bought out $LEAP and the stock is up more than a 100% after hours. One glance at the option volume and you have to wonder just how many knew of this before hand and traded options to capitalize on this move.
For instance the $9 July strike had a total of 10 contracts trade hands in 2 months. 18 Minutes before todays close over 1,200 calls were bought. Pure luck? Just some lucky trader with some money to throw around? We've seen this before.
Check the other strikes. Its astonishing.