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Could Lebron James Save Wall Street?

If he comes to the New York Knicks, maybe. At least you might think so from action on the Street today.

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As of 2:45 p.m., shares of Madison Square Garden Inc., which includes the Knicks and the MSG Network, were up 1.21 percent to $20.51, but the bigger story was in the options pits.

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There’s been twice as many contracts sold to people betting that MSG stock will rise to $22.50 by the end of the month as compared to people betting it will fall to $20 by July’s end. 

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“There’s absolutely no justification for this activity other than the LeBron James play,” said Jon Najarian, co-founder of Trade Monster and a CNBC contributor. “People will most likely continue to speculate into tomorrow’s announcement.”

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That's your money being played with, people. Great way to decide what to do with it, isn't it?

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