Huge Move In Monster Worldwide (MNST) Calls Expiring On September 17

According to an article by Pete Najarian on CNBC, shares of Monster Worldwide (NYSE: MWW) are set to gain significantly by late summer. The online employment company moved up 0.37% to close at $16.17 on Monday. MNST’s share price has been fluctuating between $14 and $19 from August 2009.

According to OptionMonster's real-time systems, two large blocks, consisting of 3,500 and 3,631 MNST calls, were bought on Monday within seconds of each other at $1.50. The two trades surpassed the open interest of 108 contracts and the average daily volume of 5 calls at that strike rate. According to Pete, MNST’s stock should gain a minimum of 19% on September 17, the date of expiry of the options, for those calls to come to profit.

Monster Worldwide has been involved in takeover rumors, which had fueled call activity on March 1. MNST had slipped on February 4 when the company announced its intention to acquire HotJobs from Yahoo (NASDAQ: YHOO) in a $225 million deal. The deal is expected to complete between June and October, if MNST does not face regulatory obstacles.

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