Market Minute:
Unique information ‘flows’ on active options, volatility spikes, and put/call chatter.
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posted by:Paul Foster on Mar 29, 2007, 8:04 am
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US Steel Group X (news,
chart,
quote) - X option implied volatility Flat into LSS purchase for $2.1 billion
X will purchase LSS, a manufacturer of oilfield tubing and flat rolled steel, for $2.1 billion in cash. X has a market cap of $11.7 billion. X say's "the transaction will be accretive to its 2007 EPS before considering expected synergies and excluding the accounting affects of the sale of the acquired inventory and other customarily purchasing accounting adjustments." X over all option implied volatility of 37 is near its 26-week average according to Track Data, suggesting non-directional risk.
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