Aztar AZR (news,
chart,
quote) - AZR implied volatility at low end of Range on Colony Capital bid of $41
AZR received a $41 per share offer from Colony Capital according to published reports. PNK bid $38 a share for AZR on 3/13. SBHU say's "potential synergies may be greater for Colony (vs. PNK) as it operates casinos in both Las Vegas and Atlantic City." AZR August option implied volatility of 16 is at the low end of its 26-week range. Below average option implied volatility suggests risk of AZR trading below $37 or above $44 over the next five-months is low.
DISCLAIMER: RED Option, in an attempt to provide the best resources from some of the industry's most capable people, has introduced our Market Minute commentary. RED Option does not endorse this commentary or information as trade recommendations nor does it have any input whatsoever into the decision making. Any content for the Market Minute is the sole opinion of the author.
