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Option update 7-3-07: Blackstone purchasing Hilton

Posted Jul 4th 2007 6:35AM by Paul FosterPaul Foster RSS Feed
Filed under: Major Movement, Deals, Press Releases, Hilton Hotels (HLT), Starwood Hotels Worldwide (HOT), Marriott Intl'A' (MAR), Options, Blackstone Group L.P (BX)


Hilton (NYSE: HLT) volatility and volume elevated prior to Blackstone paying $26 billion. HLT announced Blackstone Group (NYSE: BX) will acquire all the outstanding common stock of HLT for $47.50 per share. HLT closed at $36.05. I reported near the close of trading on 7/3/07 "option volume & volatility Elevated as HLT rallies 6%." HLT total volume of 32,490 contracts and HLT July option implied volatility of 39 was aggressive, above its 26-week average of 31 according to Track Data, suggesting larger risk.

Daily Option Update is provided by Stock Options Specialist Paul Foster of theflyonthewall.com.

Tags: Blackstone Group, BlackstoneGroup, Equity Office, EquityOffice, Hilton, option implied volatility, option volume, OptionImpliedVolatility, OptionVolume, Paris, Paris Hilton, ParisHilton, Peter Peterson, PeterPeterson, Sam Zell, SamZell, Stephen Bollenbach, Stephen Schwarzman, StephenBollenbach, StephenSchwarzman, Stock Options Specialist, StockOptionsSpecialist

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