Large option blocks in 21st Century Fox as a hedge is adjusted
Large option blocks in 21st Century Fox as a hedge is adjusted. The stock up 13c to $45.82 and 9.8K Jan 43 puts sold at $1.25 and 32.6K Jan 46 puts at $2.20, while 25.3K Apr 40 puts bought for $1.60 and 20.8K Apr 43 puts for $2.34 along with the sale of 5.1K Apr 46 calls at 30c. The long puts in the April term are opening and the Jan puts appear closing: trade history shows 35K Jan 46 puts opened for $1.60 on 6/20 with shares near $48 and 20K Jan 43 puts for 90c on 6/21. The stock saw notable volatility in early and mid-July after Comcast (CMCSA) decided not to offer a bid to compete with Disney (DIS) on its acquisition of FOXA. Now questions remain about the Disney purchase and regulatory approval in China. The big April puts opened today likely extend a deal hedge should things between DIS and Fox fall apart.