Anyone trading this now? For a buyout rumor this stock brought a good amount of option activity given its market cap size. News that moved the stock (from flyonthewall.com), "Aeropostale rallies amid talk of presentation cancellation Shares of Aeropostale (ARO) are moving higher amid speculation the company has canceled its January 14 appearance at the ICR XChange Conference. The retailer has no appearances listed on its website for upcoming events. Shares of Aeropostale are off their highs, but remain up 8% to $9.27 in morning trading. Investors may be speculating the cancellation is related to possible deal talks, as opposed to a scheduling conflict. Aeropostale has been called an attractive leveraged buyout candidate by analysts at Jefferies, and adopted a stockholders rights plan on November 26 intended to prevent an acquisition on unfavorable terms. Note that on November 21 Crescendo Partners urged Aeropostale to commence a sale process and two days prior Hirzel Capital reported 6.0% stake in the retailer and said it planned to have discussions with management." This is coincidental because I was just there yesterday shopping and they were writing down their inventory (clothes) far more than the other 5 stores I visited. Everything was heavily discounted. I'm speculating they might be looking to raise as much cash in the short term to payoff a possible LBO buyout. When I combine this thought with the fact that option activity seems very high given its market cap size, the idea of a near term buyout seems like a good risk/reward to take. Anyone who understands greeks or option volatility trading, what do you see?