Unusual Call Options Activity in Takeover Target GFL Environmental
GFL Environmental (GFL) is experiencing heavy and unusual call options activity as its board considers takeover offers around $50 per share. The stock currently trades at $42.90, down nearly 1.9%, with the most recent calls expiring in December 2026 at a strike price of $45. These options have seen over 12,800 contracts traded—over 45 times higher than previous volumes—and carry a premium of $2.74. Analysts suggest that potential offers are likely from private equity firms and could value the company above $18 billion after accounting for its significant debt load ($9.6 billion as of June 30) and cash reserves ($192 million). The next balance sheet update is expected in November with Q3 earnings, adding uncertainty to current speculation. Call buyers are betting on a near-term takeover at or above $50 per share, while sellers—particularly covered call writers—are earning an estimated yield of 6.4% over three months and potential capital gains if the stock rises toward their strike price.
Tickers: $GFL
Topics: call options activity GFL Environmental takeover speculation