For example EVVV's volume today, Avg Vol. has been 800K, but today is over 42m so far? I notice that at the news of the acquisitions/take-overs, the price of that stock goes up big and stays FLAT, and Volume jumps 20-50 fold. So who is really buying it, because it remains FLAT throughout the day? Do some people know in advance that such news will be coming out so they stock up on Call options?
1) It can be short-covering, new buying hoping for higher prices or options-related trading. 2) Unfortunately, yes.