Zeev's Turnips Patch-No Politics (ZEEV)

[madrose1]

Napster-NAPS Calls active at higher implied volatility on GOOG deal reports

NAPS is up 1.38 to $4.50. The New York Post and Digital Music News have reported that GOOG and NAPS are in discussions for a partnership or a possible sale. STFL say's "we're surprised GOOG wouldn't just develop its own service. We believe that NAPS shares would pull back substantially from pre-market levels of $4.50 should the deal just be a strategic partnership."

NAPS February and March option implied volatility has spiked to 118 from yesterday's 89 level. NAPS intra-day call option volume of 8,305 contracts compares to intra-day put volume of 1,932 contracts. Increasing option implied volatility suggests larger price fluctuations