Compellent Technologies Falls 13%; Calls Active (CML)

Shares of Compellent Technologies, Inc. CML fell hard this morning after Dell DELL said that it was in advanced talks with CML about a deal, but that no assurances could be made that a deal would be reached. Many have speculated that it could be a take-under, valued at roughly $27.50 per share. Nonetheless, call volume is outpacing put volume 4-to-1 this morning. Within the first half hour of trading 4,000 calls have traded versus 1,000 puts. The January 2011 $30.00 and $35.00 strikes are seeing the heaviest action. Compellent Technologies, Inc. is a provider of enterprise-class network storage solutions that automate the movement and management of data throughout its lifecycle. The company's Storage Center is a Storage Area Network, that is designed to lower storage and infrastructure capital expenditures, reduce the skill level and number of personnel required to manage information and enable continuous data availability and storage virtualization.