Paramount Global Stock Surges Amid Buyout Talks

Options bulls are targeting the stock in response

Digital Content Manager
Apr 19, 2024 at 10:50 AM
facebook X logo linkedin

Paramount Global (NASDAQ:PARA) stock was last seen up 10% to trade at $12.07, after The New York Times reported Sony Group (SONY) is discussing plans to acquire the media company with Apollo Global Management (APO). Today's pop has PARA is gapping above the 20-day moving average and eyeing a fourth-straight win, after slipping to an April 10, four-year low of $10.12. For 2024, the equity still carries an 18.7% deficit.

Calls have been much more popular than usual in the options pits in the past 10 weeks. This is per the equity's 50-day call/put volume ratio of 6.27 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), which sits higher than 95% of readings from the past year.

Options bulls are doubling down today, with 35,000 calls exchanged so far -- double the intraday average volume -- compared to just 6,924 puts. The most active contract is the April 12 call.

Meanwhile, the 86.48 million shares sold short make up 16.9% of the equity's available float, or nearly a week's worth of pent-up buying power. An unwinding of this pessimism could generate additional tailwinds for Paramount Global stock.



Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI