Jon Najarian Spotted Unusual Activity In AXL

Jon Najarian, a co-founder of OptionMonster.com, said on CNBC's Fast Money Halftime that he spotted unusual options activity in American Axle & Manufact. Holdings, Inc. AXL. He added that a large number of call options were traded and activity is six times larger than the normal activity, in just 2 1/2 hours today. Rumors about a potential takeover are the reason for this unusual activity. Jon Najarian contacted involved parties, but he did not get a confirmation. Volatility in the front month is exploding and Jon Najarian thinks that this stock is going higher. American Axle & Manufact. Holdings, Inc. (AXL) is currently trading 7.26% up, and before this stock spiked Michael J. Zerinskas, Benzinga's Chief options strategist, suggested to our readers that options are pointing to bullish activity in AXL. You can read his article here.