Twitter Options Go Crazy on Takeover Rumors


We've seen many, many Twitter (TWTR) takeover rumors

I Googled twitter takeover rumor and got 7.94 million results.

Benzinga has a great list of 2016 Twitter takeover rumors here.

Obviously, they've never come true.

And anyone who's been watching the markets for any period of time knows that 99% of takeover rumors are false.

But traders are really, really buying into CNBC's fresh report that Google (GOOGL) or could buy Twitter.

The stock is up 19% to $22.16.

This is Twitter's best day since July 30, 2014.

And call options volume is exploding.

As of 11:50 a.m. ET, 458,468 calls have traded vs. a 10-day average of 70,403.

This is the second biggest day for Twitter call options volume ever.

The record is 618,767 contracts, set on December 26, 2013 when Twitter hit its all time high at $74.73.

And frankly, the Twitter takeover rumors remind me of the endless takeover rumors that surrounded BlackBerry (BBRY) a.k.a. the artist formerly known as Research In Motion (RIMM).

Interestingly enough, T3 Live did a Twitter poll (ironic, huh?) asking if Twitter will receive a takeover offer.

60% say yes:

But I'll only believe this when I see it.