Tuesday, January 22, 2008

Good call on Apple!

Somebody made a pretty good call, buying Apple put options at strikes 110 and 120 on the Jan 2009 expiration. The strikes saw 82000 contracts purchased/sold on Dec 10th last year. The combined value of the contracts was close to $57 million. Apple shares closed that day at $194.5, the new Ipod Touch was just released and the future looked bright with holiday sales just around the corner. Makes one wonder how many insider trades go undetected.

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