TIBX calls are seeing interest with its shares up 6.7% following SAP for TIBX M&A speculation. So far today 13.9K total calls have traded vs 600 total puts. Most notable are the TIBX Jun 23 calls (volume: 7120, open int: 50, implied vol: ~45%, prev day implied vol: 1%) -- several transactions above 1K in size traded on the offer. Co is scheduled to present at a Gartner Enterprise Summit on June 4 and is expected to report earnings mid-June, possibly falling within June expiration.