Starwood (NYSE: HOT) is recently up $1.54 to $49.08 on renewed buyout chatter.
HOT announced on November 9, 2007 an expanded share repurchase authorization by $1 billion and increased is annual dividend 7%.
HOT has a market cap of $8.9 billion with long term debt of $3.5 billion.
HOT March 55 calls have traded 38 times on transaction volume of 2,002 contracts above its open interest of 1,176 contracts. HOT option implied volatility of 43 is above its 26-week average of 39 according to Track Data, suggesting larger risk.
Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com
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