Skip to main content

Market Overview

Benzinga's Option Alerts Identify One Trader's Bullish Bet On Rite Aid

Share:
Benzinga's Option Alerts Identify One Trader's Bullish Bet On Rite Aid

Rite Aid Corporation (NYSE: RAD) shares spiked up 2.36 percent Wednesday amid notable call activity. In weekly calls expiring late February, a trader bet on 20 percent upside by the end of the week.

The activity might be inspired by Rite Aid’s anticipated buyout. The company is still awaiting the Federal Trade Commission’s decision on the Walgreens Boots Alliance Inc (NASDAQ: WBA) merger, which was last updated January 31 as the parties put forth a revised agreement.

On Tuesday, Sidoti & Company confirmed the divestment of 865 Rite Aid stores to Fred’s, Inc. (NASDAQ: FRED), which suggests progress in the overall deal.

Not everyone shares Sidoti’s optimism, though. Last week, one trader bet on 5 percent downside on Rite Aid, which was trading at $5.30 at the time.

Rite Aid shares closed up 0.85 percent at $5.33; the stock hit an intra-day high of $5.45.

Image: Mike Mozart, Flickr

 

Related Articles (RAD)

View Comments and Join the Discussion!

Posted-In: FTC Sidoti & CompanyLong Ideas Options Exclusives Markets Trading Ideas Best of Benzinga

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com