US Steel advances on rumor of ArcelorMittal bid - SteelGuru (Michelle Applebaum Research)
U.S. Steel stock surges on takeover rumors - Pittsburgh Tribune-Review (Affiliated Research)
UPDATE 1-U.S. Steel stock, options trade up on takeover talk - Reuters
Bullish Traders Pour Into U.S. Steel, Light Up Cree - Forbes
Here are snapshots via Yahoo Finance of the OTM X option activity in August, September and October. The last columns on the right are volume and open interest. You can see volume was above open interest and out of the money. Watch X and the steel sector. I'm putting up the Steel ETF (SLX) chart on my next post. X closed at $49.59.
August X Call Option Chain clipped (Expires on Friday)
September X Call Option Chain (clipped) $50-$60 active big time
October X Call Option Chain (clipped) $60-70 > open interest