Sun Microsystems Trading

I noticed today that nearly 200 million shares of Sun Microsystems was traded on NASDAQ today. At around 5 dollars a share, that is close to 1 billion dollars. That is about 1/18 of the total outstanding shares of the company. It was about 9% of the total trading volume of the NASDAQ exchange.

All this happened on no real news. Perhaps the company was executing on its announced buybacks.

For the record, I own SUNW shares and options.