Option Bulls Target Comcast, GE After NBC Deal
Posted on February 13, 2013 at 15:00 PM EST
Option traders quickly looked to capitalize on the announcement that Comcast Corporation (NASDAQ:CMCSA) was buying the remaining 49% of entertainment giant NBCUniversal from General Electric Company (NYSE:GE) for $16.7 billion. CMCSA shares immediately shot to a new 52-week high while the equity's options trading quintupled its normal amount in early trading. Calls exceeded puts by more than 3 000 contracts and also were trading at five times normal levels. The most active was the short-term February 42 call which has seen nearly 2 000 contracts change hands so far this morning. The option has seen volume far exceed open ...