Someone Just Bet $14 Million That Netflix Will Lose The WB Bid, Here Are Their Odds
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An anonymous trader just made an insane bet: $14 million that Netflix will lose its bid for Warner Brothers BUT still profit from the whole thing.
The trader (who will remain anonymous because I don’t know who they are) bought 55,000 call options with a $90 strike price that expire in May but also sold 55,000 call options at $105, offsetting the premium, totally $2.51 per contract and a $13.8 million outlay. …And if you know what any of that means, you’ve got more right to write this article than I do…
It’s a hefty bet, that’s all I know, and it seems crazy given that Warner Bros already accepted Netflix’s offer. But Paramount just recently boosted their offer to the point where Warner Bros is interested again (if the price is right, right?) so there’s a chance they might just win out this battle afterall.
And even with Paramount’s fresh and tasty bid, Netflix still had a massive stock surge of 6% and analysts predict that even with a loss on this bid, Netflix might just profit from this whole debacle either way.
So who exactly made this bid that views Netflix so favorably? Well, reportedly it rhymes with Sned Snarandos, but we’ll likely never know.
Whether this mystery trader gets their winnings or not is still very much up in the air. But who knows, there is still such a long way to go. Netflix might yet raise their offer. The government might actually do its job for once and shut down both acquisitions (unlikely). But the point is it’s all still on the table and we’ll just have to wait and see.
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