Microsoft is trying to buy Activision. If the deal is approved, they will be buying $ATVI at $95/share. If the deal does not get approved, $ATVI will more than likely drop to a lower price. My question is, why would anyone be buying Calls at the $95 strike price? The price cap for $ATVI is pretty much capped at $95 so it seems every Call bought at this price is guaranteed to expire worthless. Does anyone here know what might be going on? Thanks.
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