Manchester United Stock Falters Despite New Buyout Bid

Put traders are blasting the equity today

Deputy Editor
Mar 27, 2023 at 2:02 PM
facebook X logo linkedin

An update just rolled in regarding the sale of Manchester United PLC (NYSE:MANU). Sheikh Jassim Bin Hamad Al Thani, the son of Qatar's former prime minister, submitted a new bid to buy the soccer club, according to sources that spoke with Reuters in February. Though no financial details were revealed, the bid is reportedly an improvement to a prior one. 

MANU moved higher in premarket trading, but is lower this afternoon, and was last seen down 6.7% to trade at $22.31. Today's pullback was saved by the $21.75 level, while the 100-day moving average remains in place as an added layer of support. Year-to-date, the equity stands roughly 4% lower. 

Manchester United stock's usually quiet options pits are bursting with activity today. So far, 9,646 puts have crossed the tape, which is double the volume that is typically seen at this point. The June 20 put is seeing the most activity, followed by the 12 put in that monthly series. 

Now could be a good time to weigh in with options, as the equity's Schaeffer's Volatility Scorecard (SVS) sits at 87 out of 100. This indicates MANU tends to exceed options traders' volatility expectations -- a good thing for buyers.



How to collect 1 dividend check every day for LIFE

Did you know you could collect 1 dividend check every day the market is open? You could also do it starting with just $605! For me, I'm collecting 70 dividend checks every quarter…which averages around 1.1 dividend checks every business day. There's no trading behind this... no penny stocks or high-risk investments. All you do is buy and hold and you're set. There's no set up required either. If you start buying the dividend stocks I show you today... you could collect 1 dividend per day starting as early as this week. Click here for all the details.