Sara Lee (SLE) adds 13 cents to $17.64 and one strategist opened a Jan13 15 – 20 bullish risk-reversal on the stock for 15 cents, 4000X on CBOE. 4500 traded and appears to be opening activity. Separately, an Oct – Jan 19 call spread was being bought multiple times for 47 and 48 cents on ISE and CBOE. Data hint at rolling activity (buying Jan12). Bullish trading in SLE comes a few days after Wells Fargo upgraded the stock to Outperform and ahead of a Nov 3 earnings release.
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.