Market Minute:
Unique information ‘flows’ on active options, volatility spikes, and put/call chatter.
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posted by:Paul Foster on May 31, 2006, 7:53 am
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Andrew ANDW (news,
chart,
quote) - ANDW option implied volatility was above average prior to stock Swap
ANDW agreed to be acquired by ADCT for $12.76, above its closing price of $9.78. ADCT will pay .57 a share for each ANDW share. ADCT say's "estimated annual pre-tax earnings synergies of $70 million to $80 in third year after merger closing." OPCO say's "ANDW has posted disappointing operating results in most recent quarters due to manufacturing and execution problems." ANDW option implied volatility of 39 was above its 26-week average of 34 according to Track Data, suggesting larger price fluctuations.
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