Thursday, April 22, 2010

Rumors of CDO Trading Sends ICE and CME shares flying (CME)

By Sellputs 4/22/2010 01:22:00 PM

Shares of Intercontinental Exchange and CME Group are surging in early afternoon trading on rumors CDO trading will be cleared on their exchanges.  ICE (NYSE: ICE) is currently up 5 points on slightly higher than average volume, CME (NYSE: CME) is up 18 points on similar average volume.

Options are active as speculators come in buying up OTM calls on both ICE and CME. In ICE the 120 May calls saw 2500 traded vs OI of 644. In CME traders focused on the 350 calls as 1500 traded vs open interest of 909.

ICE 52 week range 81.26 - 121.93
CME 52 week range 218.56 - 353.03

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