Jalen Brunson will make me $1 million. How is no one talking about this? Madison Square Garden ($MSGS) DD
MSGS trades at a 30% discount to net asset value of its sports properties; a planned spinoff of the Knicks will force market revaluation upward to ~$555/share from ~$383. The Knicks' playoff success and upcoming spinoff catalyst, combined with low options IV (~45%) and illiquid float, create asymmetric upside on call options.