Landry's Restaurant (LNY) volatility low on uncertainty Pershing Square stake
Landry's Restaurant (NYSE: LNY) closed at $21.30. In early November 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. February put option implied volatility is at 41; April is at 46; below its six-month average of 59 according to Track Data, suggesting decreasing price movement. Paul Foster
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