$CTRX, is not exactly a chick magnet in the option world. The options are fairly illiquid, and for much of the trading session on Friday last week, the options did not see any action. But as the market came to a close, option activity heated up in a big way. It was as if this nerdy stock took off its thick rimmed glasses, undid its hair, and started twerking.
Before the bell today, Monday, $CTRX was bought out by United Healthy for $61.50 a share. A 25% premium to the closing price of the stock. For a stock that has traded in a few dollar range for years, a 25% move is something the options market was not pricing in. Which makes the unusual option action right at the close on Friday all the more suspicious.