Family members own 65% of Dow Jones (publisher of the Wall Street Journal). They have a deadline of 5 PM US Eastern Time Monday to vote on a bid by Rupert Murdoch for $60 a share. I think the family will vote for it, because I imagine 90% of the 35% who aren't family are hedge funds who want the deal done, to make a quick $5 (trading around $54.70 right now). Pre-takeover, the price was $35, and as the current P/E is a respectable 14, I figure $35 is a conservative downside. So risk $20 to make $5. Better odds than the lottery, and it will be resolved in 24 hours.

What I find amusing is all the chatter and action in puts. I think greedy people all want the bigger upside, so most 'risk lovers' are buying puts rather than buying the stock. That is, a $45 put will generate a payoff of greater than the investment. I think people prefer situation where they can risk $5 to make $10, rather than risk $20 to make $5, even if the expected values are the same.