HAS closed at $43 on Friday, up $1.21 from its intra-day low of $41.79. <img src="http://2.bp.blogspot.com/_hMry1m7UF10/TCgJTclSPDI/AAAAAAAADN4/tLba9sb4otA/s1600/has_summary"> At ~10:52 EST the stock hit its low, then abruptly turned higher. The Tick Chart snap is included (<a href="http://livevol.blogspot.com/2010/06/has.html">in the article</a>). The company traded over 7,400 options on total daily average option volume of just 1,355. The largest trade was a 3,434 lot Aug 47.5 call purchase about thirty minutes into the stock rise. Calls traded on a 19:1 ratio to puts. The Stats Tab and Day's biggest trades snapshots are included (<a href="http://livevol.blogspot.com/2010/06/has.html">in the article</a>). The news broke of a potential buyer. The company quickly responded: Hasbro Inc said it is not involved in any talks regarding a potential sale of the company, despite a news report that said it had been in negotiations for a possible leveraged buyout. The No. 2 toymaker s shares rose as much as 9 percent in pre-market trading after the Wall Street Journal reported that it was in early negotiations with Providence Equity Partners to take the company private. Hasbro confirmed it was approached by a private equity firm regarding a transaction, but it did not name the firm and its board had decided against pursuing it. A source familiar with the matter told Reuters on Thursday Providence has had talks with the No. 2 U.S. toymaker. Providence was unavailable to comment. So a "denial." The Options Tab (<a href="http://livevol.blogspot.com/2010/06/has.html">in the article</a>) illustrates that the Aug 47.5 calls are mostly opening (compare OI to trade size). You can also see earnings are in that cycle. I don't see an OI even in the two thousand range, so the 4,500 total of the Aug 47.5 calls that traded are significant. The Skew Tab snap (<a href="http://livevol.blogspot.com/2010/06/has.html">in the article</a>) illustrates the vols per strike per month. You can see the slightly kinked up skew right on the July 47.5 line. It's a little surprising that the Aug 47.5 calls didn't react more severely. Seems like a call spread could set up if you don't think anything is happening in July. Finally, the Charts Tab (6 months) is below (<a href="http://livevol.blogspot.com/2010/06/has.html">in the article</a>). The top portion is the stock price, the bottom is the vol (IV30™ - red vs HV20™ - blue). The yellow shaded area at the very bottom is the IV30™ vs. the HV20™ vol difference. We can see the stock popped on earnings in late Jan, and since then has steadily risen. We'll see how this plays out, usually just a bunch of saber rattling. But then again, if someone bids for the company, the stock should jump, regardless if the company is "interested." This is trade analysis, not a recommendation. Details, trades, prices, vols, skews, charts here: http://livevol.blogspot.com/2010/06/has.html