Option activity bubbles over in Anheuser-Busch
?By Doris Frankel
CHICAGO, May 23 (Reuters)?
Option activity in Anheuser-Busch Cos Inc <BUD.N> was notably bullish on Friday as traders snapped up calls, hoping to catch a share price rally on speculation the largest U.S. brewer would be acquired.
After reports that Belgian brewer InBev NV <INTB.BR>, the world’s second-biggest by volume, was working on a $46 billion offer for Anheuser-Busch, the number of call options rose to roughly 247,000 contracts, nine times the normal turnover…
…”The fact that so many traders are still buying calls going into Memorial Day weekend suggests they believe an announcement may take place over the weekend,” said Mark Longo, founder of Web option information site www.TheOptionsInsider.com.
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