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November 7, 2011  Mon 7:26 AM CT

TKLC: SEE CHART GET CHAIN FIND STRATEGIES
Deal Values Tekelec at $780 Million

Tekelec, a maker of networking technology, agreed to be purchased by Siris Capital for $11 a share. TKLC pops 11 percent before the bell.

Pharmasset Lifted by Hep-C Data

Pharmasset released data over the weekend showing promise of its PSI-7977 compound in fighting Hepatitis C. Those results were from a Phase II trial, and now support the case for more advanced Phase III testing. VRUS climbs 9 percent in the premarket.

Omnivision Lowers Outlook

Omnivision Technologies cut its outlook in a preliminary earnings release because of an "unexpected cutback in orders." Management now sees revenue of now more than $217 million, down from an earlier $255-275 million estimate. OVTI drops 17 percent in the pre.
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Education & Strategy

Sweet Spot Exceptions

As discussed last week, when using the Stock Replacement Strategy to replace a stock position to trade direction, we want to use an option that has very similar characteristics to the stock. We talked about using the deep in-the-money, 80 to 85 delta option that is similar in the Greeks and has relatively little extrinsic value which tends to work against us in stock directional trading.

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