Bearish Options Activity in Sinclair Broadcast Group (SBGI), Targets 7% Downside in Shares Ahead of Important June 12th FCC Hearing on TRCO Deal -Susquehanna

Susquehanna options strategist Alison Edwards notes bearish options activity in Sinclair Broadcast Group (NASDAQ: SBGI), as an opening investor in bought 2k Jul 31 Puts for $1.00, ahead of an important FCC hearing on potential TRCO acquisition. This investor breaks even in the event of a 7% pullback in the underlying over the next month.

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