Icahn buys puts $34.2 million in Navistar stock

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Bobby Raines 04/16/2014

Activist investor Carl Icahn, who already owned a more than 5% stake in Navistar ( NAV ) , added 1,027,789 shares to his position between April 11 and April 15. At prices between $33.21 and $33.31 per share, Icahn shelled out a total of $34,205,404 for the new shares.

IK-> The technicals for NAV ($34.71 up $0.98) are bearish with an upward trend. Recent support has been near $33.27 and recent resistance has been near $34.87. Standard & Poor's has a three STARs (out of five) ranking on the stock. Look at the July 25/28 bull-put spread for a 30-cent credit. That's an 11.1% return and the stock has to fall 19.3% to cause a problem.  [InvestorsKeyhole, Various news and data services]



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Originally published on InvestorsObserver.com


This article appears in: Investing , Options

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