Shares of Anaplan Inc (NYSE:PLAN) Monday spiked close to 28% after private equity investment firm Thoma Bravo announced it had signed a deal to acquire the business planning software company. The announcement also triggered a big move in Coupa Software Inc (NASDAQ:COUP).
On CNBC's "Options Action," Mike Khouw of Optimize Advisors said that traders would want to “buy near-dated calls and sell out-of-the-money long-dated calls” because the stock will cease to exist after the acquisition.
