Nice timing for yesterday’s buyer of more than 2000 Heinz Jun 65 calls yesterday afternoon for 35cents when shares were near 60.80. Cash deal price will put them near 7.50 this morning- a handy 2142% overnight return on their near $80K investment! $1.5million buys alot of condiments. Total call volume yesterday awas 4x normal, while puts where half the typical daily level.
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.