Option buyers not expecting much on these buyout rumors. Nov 10.00 Strike .60-.70. They're figuring $10.60-10.70 range. I got burned on another poorly run company Krispy Kreme--KKR rumors. When the rumors stopped KKR went to below where it was before the rumors. If this rumor falls flat this stock will be back in the 8-9 range. So I didn't buy any of FNFG opptions.
Buyout news has been out 2 days & it only went up a dollar to $10.30 on huge volume--30 million shares traded. Shorts, who believe this deal is real have covered their positions. $12.50 in stock of acquirer (then price of acquirer will go down) or $10.30 in cash.
Over the years, Wendy's has failed multiple times in setting up breakfast menu. Their stores have people working in them to set up in the morning, but they are not open to customers. KKD & WEN should just make a deal (not a buyout) with each other to set up donut machines in the Wendy's. Sell donuts, bagels (like in FL), and coffee while they are setting up for lunch.. Split the net profits.