Shire Pharmaceutical (SHPGY) implied volatility below average at 27

Shire Pharmaceutical (Nasdaq: SHPGY): SHPGY a specialty pharmaceutical company closed at to $59.78. Dow Jones carried a story on 11/16/06 indicating AZN is mulling SHPGY takeover. SHPGY over all option implied volatility of 27 is below its 6-month average of 34 according to Track Data, suggesting decreasing price fluctuations. Paul Foster