Close at 32.03 was probably shorts covering. Many shorted on spike down yesterday that the deal was collapsing .. but when that was not the case, traders must have covered. I will not read much into a 0.03 close above 32!
It will likely come down by 27th unless there is a counter offer
As said, I accumulated 32.50 calls just in case ...!
Looks like somebody is expecting a counter offer of sort?
But if the deal falls through without a counter, the price could drop to $25 ...
Risk is higher than reward. Better to sell stock and buy some calls if you expect a higher offer