Dan Nathan Sees Unusual Options Activity In Sunedison Inc

CNBC Options Action's Dan Nathan analyzed on the show trading activity in

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Sunedison Inc

(NYSE: SUNE) after the stock spiked 5.08 percent on rumors that it could be a takeover target.Nathan explained that when the rumors came out, the stock traded almost 11 percent higher from its previous close, at $21.39, and the options trading volume was five times higher than Sunedison Inc's daily average.When the stock traded at $20.20, there was a buyer of 2,500 contracts of the October 20 call options and for a premium of $1.15. This trade breakevens at $21.15, or 4.3 percent higher from Wednesday's close.Nathan also mentioned that Greenlight Capital, Omega and Metropolitan Capital own the stock. He believes that the high short interest in this name could be a reason for a massive breakout that could happen after a period of consolidation. Dan Nathan thinks that options are still cheap for Sunedison more news on takeover subject.