Viacom (VIAB) loses 70 cents to $46.02 and early trades on the media company include a multi-exchange sweep of 4,000 Sep 43 puts for $1.30 per contract. A customer bought-to-open, according to ISEE. 5,140 puts and 82 calls now tarded on VIAB. Bearish trading comes the day after headlines were crossing about the dispute between VIAB and DirectTV. Viacom has dropped MTV, Nickelodeon and 15 other channels from DirectTV due to the dispute. Recent reports suggest the two sides are still “pretty far apart” on negotiations.
About the Author (Author Profile)
Frederic Ruffy is a well-known trader, writer, and strategist who has spent years educating investors and creating intelligent, insightful, unbiased market observations that are frequently cited by the Wall Street Journal and other financial publications. As senior analyst, Fred provides frequent and regular notes and daily updates for activity of interest.