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Andrea Electronics (AND – 3.50) manufactures "Anti-Noise" products including microphones and headsets. The firm enjoys high-profile clientele such as IBM, Microsoft, and Intel. The stock has been trading in single-digit territory since April but has nearly doubled in value since December 29.
Today, activity on the shares was notably out of the ordinary. Nearly 700,000 shares changed hands on AND today, in stark contrast to its average daily volume of 99,000. The shares were unchanged on the day and there was no news to spur increased interest.
Even more puzzling is the options interest generated in AND today. Over 2,100 contracts were executed on the February 5 call, while 5,480 contracts changed hands on the February 5 put. Open interest at these strikes prior to today stood at 791 and 500 contracts, respectively. The bulk of today's volume, some of which was indicated as a spread trade, crossed the tape during the final hour of the trading session. These were among two of the most-active options on the CBOE today.