Mega Deal Pushes INFO to Record Highs

The acquisition will be the biggest of 2020

Deputy Editor
Nov 30, 2020 at 2:46 PM
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The shares of IHS Markit Ltd (NYSE:INFO) are up 7.2% at $99.25 at last check, after news that S&P Global (SPGI) will acquire the company in an all-stock $44 billion deal. In the biggest corporate buyout of this year, the deal is expected to close in the second half of 2021. To follow, 32.25% of SPGI will belong to INFO shareholders. 

Bouncing off the 10-day moving average at the start of November, INFO has been carving out a channel of higher highs. Today's bull gap has the stock hitting a fresh record peak once again, and up 36.6% year-over-year. 

INFO Nov 30

Today's news has INFO's typically quiet options pits buzzing, with 4,048 calls and 997 puts across the tape so far -- 23.5 times the usual daily volume already. The December 110 call is the most popular, followed by the 100 call in the same series, with new positions being opened at both. 

Lastly, the equity's premiums are attractively priced at the moment as well, making it a good time to join in those traders rushing to the options pits. The equity's Schaeffer's Volatility Index (SVI) of 21% sits in the extremely low, 5th percentile of its annual range. 

 

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