Is Carlos Slim Upgrading his Subscription to the New York Times?

Carlos Slim
Alfredo Estrella | AFP | Getty Images
Carlos Slim

Shares of New York Times Co. are up more than 17% in the last five days, but options traders see even more gains to come.

After a seven million share block of NYT stock printed Monday morning at 10:21am, speculation on the street centered on whether Harbinger Captial's Phil Falcone was getting out just as Mexican billionaire Carlos Slim was buying more. Slim already owns about 7% of the Gray Lady. "Only four New York Times Co. holders have that level of holding. One is Harbinger," says Doug Arthur of Evercore Partners. "I don't know who the buyers were, but Slim had been buying over time and Harbinger had been selling."

With shares of NYT trading around $9 a share today, options traders are betting the rally will continue. Nearly 1,800 of the December 10-strike calls traded hands today, a bet that is only profitable if New York Times stock rises 14% between now and December expiration.

  • Track NYT Stock and News Here

Questions, comments send them to us at: optionsaction@cnbc.com

Contact Options Action

  • Showtimes

    Fridays, 5:30p ET
    Saturday, 6a ET
    Sunday, 6a ET
  • Melissa Lee

    Melissa Lee is the host of CNBC's “Fast Money” and “Options Action.”

Latest Video

Sponsored Related Links

More on thinkorswim by TD Ameritrade

  • Make sure you’re always keeping up with the market with up-to-the-minute news and breaking stories. Move on possible breakout stocks and options with potential opportunity. Plus, get in-depth analysis on futures and forex in one seamless, integrated experience. Join TD Ameritrade and trade commission-free for 60 days + get up to $600 cash.

You Make the Call

  • Options Action: NWSA

    Mike Khouw, Options Action trader, shares his view on News Corp stock on the heels of testimony from Rupert Murdoch before British Parliament.

  • Do you have a question for the Options Action team? Options Action selects a viewer's question and gives the answer on the show's Make The Call Web Extra video.