Investors Following Hurd Into Oracle (ORCL)

Shares of Oracle Corp. ORCL are jumping higher today on news that they have hired ex-Hewlett Packard HPQ CEO Mark Hurd to replace co-president Charles Phillips, who resigned. Hurd will work alongside Oracle's other co-president, Safra Catz. Currently, shares are higher by 5.54%, trading at $24.19. Options traders are also positive on the announcement, as of now 41,000 calls have traded versus 24,000 puts. Call volume is now running at over 2x the 20-day daily average. The strike receiving the most volume is the September $25.00 call (11,000 versus open interest of 15,796 contracts), though call action can be seen in nearly every single month up to strikes as high as $30.00. Oracle Corporation is an enterprise software company. The company develops, manufactures, markets, distributes and services database and middleware software, applications software and hardware systems, consisting primarily of computer server and storage products. It operates in three segments: software, hardware systems and services. For more great research like this, as well as how to play it through options…please visit Benzinga’s Options & Volatility Edge and Benzinga’s Cash Generator.