Home Options Shares of Qualcomm Volatile on Anticipated Broadcom Bid

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Shares of Qualcomm (QCOM) were volatile in trading on Thursday after a variety of sources stated that Broadcom was considering raising its bid for the company to $80 per share from the previous bid of $70 per share. The last time Broadcom bid to buy Qualcomm, shares were trading below $60 but quickly moved up to nearly $70 on the news. Afterwards, shares stagnated to an average of around $68 per share. There is no definite timeline for a potential follow up offer, but I would expect it to happen between now and early March. Otherwise, it probably will not happen at all. Keep an eye on QCOM for news and keep in mind that a bid of $80 being accepted means that ANY options with a strike price above $80 per share will immediately lose all of their value. QCOM’s board has already stated that they will only accept an offer of $80 per share or more, but a bid close to that number will probably suffice. QCOM shares closed at 66.80 for the session, down -2.12%.

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