Sara Lee Corp (SLE) $12.28 -0.16%
Sara Lee (SLE) is down 7 cents to $12.22 and 21K SLE calls traded so far today. The volume represents 90X the expected for the first hour and compares to just 200 puts. A lot of the action appears to be buying of Jan(2010) – Apr 10 call spreads, or rolling long Jan 10 calls to April. 11,100 Jan 10 calls and 8,900 April 10 calls have changed hands so far. Meanwhile, ISEE data indicate 77 percent of the call activity today, or 11K contracts on the ISE, are opening customer buyers. Therefore, while some of the activity might be rolling, it looks like straight call buying in SLE as well.
Category: All Stocks, Food & Beverage, Mid Cap Stocks
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About the Author (Author Profile)
Frederic Ruffy is a well-known trader, writer, and strategist who has spent years educating investors and creating intelligent, insightful, unbiased market observations that are frequently cited by the Wall Street Journal and other financial publications. As senior analyst, Fred provides frequent and regular notes and daily updates for activity of interest.
