3/12/2010-The Wall Street Journal reported Friday that shares of Supervalu (NYSE:SVU) jumped in the morning on high volumes as rumors spread on the web that the chain was a target of a leveraged buyout.
Shares of Supervalu are trading 5.3% higher to $16.93 and earlier posted an 11% gain to $17.89.
The bulk of the action taking place was in April $17.50 calls, costing 75 cents, which would make money if the stock was above $18.25 before April 16, the Wall Street Journal said.
The stock hasn't traded above $18.25 since February 2009.