Landry's Restaurant volatility low; shares rally on Pershing Square
Landry's Restaurant is recently up $2.47 to $18.65. Bill Ackman's Pershing Square Capital Management reported an economic exposure of 3.8M shares of LNY and said it opposes a $14.75 per share buyout of the company by Chairman and Chief Executive Tilman Fertitta. LNY January option implied volatility of 51 is below its 26-week average of 78 according to Track Data, suggesting decreasing price movement. :theflyonthewall.com
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