A large volume of long-dated put options has traded in Nokia Corp (NOK) ADRs (American Depository Receipts) following Nvidia, Inc.'s $1 billion stake in new NOK shares, announced on Oct. 28. Nokia, which makes 5G cellular equipment, will use the money for AI-related investments. The put options are unusual in that they won't expire for over 2 years (814 days) on Jan. 21, 2028, and are out-of-the-money (OTM) at $7.00 per share. Moreover, this was over 90 times the prior number of put options outstanding. ...

Nokia announced on Tuesday that Nvidia will purchase $1 billion in new Nokia shares, solidifying a partnership that will see Nvidia chips used to build cellular equipment. The two companies also struck a strategic partnership to work together to develop next-generation 6G cellular technology. Nokia will issue over 166 million new shares. Nokia said that it would use the proceeds to fund its plans for AI and other general corporate purposes. Nokia, a Finnish company, is best known for its early cell phones, ...