Is OCZ Technology Still In Play?

It appears that some investors still think that OCZ Technology could be a takeover target.

The maker of solid-state hard drives got hammered today and plunged to a new 52-week low after issuing a weak preliminary sales report for its fiscal second quarter. About an hour into the session, however, our Heat Seeker monitoring system detected heavy volume in the October 7 calls and the October 8 calls.

Roughly 4,000 contracts traded in each, with the October 7s going for $0.15 and the October 8s for $0.10. Volume was more than twice open interest at each strike.

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