Just a quick note. At 11:45am EST, a trader bought 5000 contracts in a single block of April $10 strike calls on the offer price of $2.20. This is against the open interest of only 489.
On Jan 22, Liberty Media (LSTZA) said that it intends to purchase up to 34.5M shares of Live Nation (LYV) through a partial tender offer for $12 per share in cash, increasing its stake in the live music company to 35% from 14.6%.
That was a great endorsement by Liberty Media on future confidence on LYV. After jumping 13% on Jan 22, LYV has held very well in overall bad tape. I don't see any news today, but it looks like traders are looking for more upside or potentially a full acquisition.
