Interesting note on Foster Wheeler today. According to Bloomberg, call volume at noon on FWLT hit 10,400 which is nearly 4x normal average.
Now the report suggests this has something to do with a contract won in Abu Dhabi. This seems like non-sense as the deal doesn't seem like anything exceptional (FWLT didn't list the value). Mainly though the majority of the calls bought today were for March '11 in the $38-40 range suggesting that some investors expect a significant increase in prices.
Though one needs to consider that the average option price of $.25 means the investor isn't heavily invested.
High option volumes can be a good indicator of something big in the works or just a huge headfake. Time will tell on this one.