RUMOR OR TRUTH? why would a spanish bank want to buy a usa bank, it sure sold lots of options
According to DealReporter sources, Banco Santander (STD) may be interested in PBCT. July put option implied volatility is at 33, August is at 32, November is at 30 is above its 26-week average of 29. PBCT call option volume of 3,643 contracts compares to put volume of 29 contracts according to Track Data, suggesting traders taking positions for price movement
Santander is a giant bank with bad bad stuff yet to hit the fan. Unemployment in Spain is 20% yet the Euro analysts say Santander is a strong solid bank. Don't believe it. They are like Citigroup in 2007 - a giant badly managed POS that nobody realizes is about to implode. If they buy PBCT then it's all over for this stock baby - just take a look at SOV to see how the Santander 'magic' worked for them. And if PBCT buys branches from SOV they'll be getting a pig in a poke.