From Options Insider:
Shares of Sealed Air (SEE) are trading solidly higher this morning following the company's announcement that its Chief Executive Officer, William Hickey, plans to retire in March.
Management said that Jerome A. Peribere, a veteran from Dow Chemical Co. (DOW), would enter as Hickey’s successor. Traders seem to like the move and are bidding shares higher today.
Calls are also active on the name. The October $15.00 call is seeing the majority of the action with over 3,800 contracts traded on open interest of just 2,632. Buyers have been coming after the offer all session....MORE
The stock is now up 10.15% at $14.32.
*In July's "Symantec CEO Departs. Stock Gets Two Upgrades. Shares Jump 13% (SYMC)" we related the story of Charley Bludhorn and Gulf+Western.