Precision Drilling (NYSE: PDS) announced the purchase of Grey Wolf (NYSE: GW) for $5.00 in cash and 0.1883 newly-issued Precision trust units for each GW share.
The transaction will establish PDS as one of the largest U.S. land drillers with a combined fleet of 371 drilling rigs.
PDS September option implied volatility of 46 is near its 26-week average of 43 according to Track Data, suggesting non-directional price movements.
GW overall option implied volatility of 45 is near its 26-week average, suggesting non-directional price movements.
Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com
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Reader Comments (Page 1 of 1)
8-25-2008 @ 9:41AM
EH said...
Pioneer Drilling is PDC not PDS. PDS is an Conroy call Precision Drilling. Don't confuse the two.