Big Sony options action before Loeb stake raises eyebrows

A surge in option market bets on Sony just before a large hedge fund investor announced a big stake and called for a major restructuring of the company has raised concerns that some traders may have had advance word of the news.

US-listed shares of Sony jumped 9.9 per cent to close at US$20.76 after Daniel Loeb’s Third Point hedge fund said on Tuesday it accumulated more than 6 per cent of Sony’s shares - a stake worth US$1.1 billion - making it the largest shareholder in Japan’s biggest electronics company.

via Business feed http://www.scmp.com/business/money/markets-investing/article/1238154/big-sony-options-action-loeb-stake-raises-eyebrows