I am generally a long term investor but decided to make a small bet on what looks like a very good way of making some quick gains with very little risk. AT&T recently announced a buyout of Direct TV for $48.5 Billion, which leaves a 13% upside. Yet, the stock is down today by nearly 2% based on fear that if they can't renew their NFL contract then the buyout won't happen. The company has already reassured investors that the NFL deal will not be an issue and it looks like it's pretty much a sure thing. There is also very little downside because the company was actually trading roughly the same levels as current prices before this deal was announced so even if it falls through there shouldn't be much damage.
PS: Here is an article going into a little more detail about the deal.
Edit: This isn't really a "day trade" but it's a trade in my opinion because it won't be long term. They must renew the NFL contract before the deal with AT&T closes at the end of the year before the price pops, so this could be a trade lasting anywhere from 1 day to 6 months depending on when that announcement comes.
Edit2: The title should have read "Possible Quick Trade". 