(Bloomberg) — Since CK Hutchison Holdings Ltd.’s blockbuster ports deal was revealed, investors have boosted options bets to an eight-year high. Now they’re waiting for more clues on the sale as the Hong Kong conglomerate readies to report earnings later Thursday.
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The number of CK Hutchison options outstanding has surged to almost 95,000, with about as many bullish as bearish contracts. While the stock has trimmed its initial jump on concerns that Chinese authorities are scrutinizing the deal, it’s still up 18% in March, heading for its best monthly rise since November 2020.
“CK Hutchison’s plans to deploy the $19 billion proceeds from its port deal, including shareholder returns and M&A, is likely to be a key focus during the upcoming earnings announcement,” said Bloomberg Intelligence analyst Sharon Chen. “Any potential impact from the Chinese government’s scrutiny on the deal and the company’s strategy for its remaining port businesses might also be important considerations.”
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