Kellogs shares up 5% to $52.83 on news they bought Pringles from P&G and call volume is running 25x normal with 12,000 contracts trading in the first 90mins and Feb 52.5 Calls leading the action. ISE data shows an opening cust buyer paying up to 50cents for several thousand contracts as shares traded near 52.62 earlier today. 30day ATMIV in K is just below 15%, a decent spike up from yesterday’s 12.6% close.
About the Author (Author Profile)
Henry Schwartz is the president of Trade Alert LLC, a provider of real-time options analysis tools to leading Wall Street firms. His systems analyze hundreds of thousands of transactions per second to help professionals identify and interpret market activity in real time, supporting informed trading decisions and intelligent idea generation. He has held institutional trading and management roles with Bank of America, Bear Stearns, Salomon Brothers and the Hull Group, and made markets on the CBOE and AMEX floors in the US, and EUREX and MONEP overseas. Prior to founding Trade Alert, he led the electronic market-making group at Bank of America coincident with the launch of the International Securities Exchange. He received his bachelor’s degree in Economics from the University of California, San Diego and his MBA from NYU’s Stern School of Business.