Icahn buys puts $34.2 million in Navistar stock
Bobby Raines 04/16/2014
Activist investor Carl Icahn, who already owned a more than 5%
, 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]