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DELL) has been swinging in a wide range for the past few sessions as the vote on Michael Dell's $24.4 billion privatization deal got closer. While the vote was scheduled for today, it's being postponed until July 24 in an attempt to see more proxy votes come in.
Investors reacted well to the news, bidding shares of DELL 2.3% higher in today's session. For traders, though, there really isn't a setup worth playing here. While there is still a risk premium priced into this stock (that could get filled once the votes are in), it's a lot of headline risk for a 3.5% upside.
I'd recommend steering clear of the drama unless you already own shares of DELL.
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