Saks (SKS) implied volatility surged after the Daily Mail, a British newspaper, said a consortium of investors might be looking to buy the retailer for $11 per share. Shares hit a morning high of $8.85 and were recently up $1.35 to $7.95. About 14,000 calls and 43,000 puts traded in the name so far, or 15X the average daily. Implied volatility is rallied 32 percent to 80.
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Saks Inc (SKS) $7.98 +20.91%
Posted on August 31st, 2010 3:14 pm
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1 user commented on " Saks Inc (SKS) $7.98 +20.91% "
Follow-up comment rss or Leave a TrackbackCraziness that thing was in the last coupla days!
There are probably some nice vol skews now based on the DB/JPM analyst fight on this one, but I wouldn’t mind it for a long term hold once it settles down.