Bulls win again in $SNE

It took just two session for option traders to double their money in upside positions on Sony (SNE).

On Jun. 12, Investitute’s marker scanners found that 2,850 June $51 calls were bought for $0.40 to $0.45 with shares at $49.29. Open interest in the strike was just 125 contracts before that session began, showing that these were new positions.

Those calls sold for as much as $1.15 today, more than twice their purchase prices. The stock rose 4.48% at the same time, underscoring how options can far outperform moves in their underlying shares.

It is the second fast money trade discovered by Investitute’s market scanners in the past month.

Long calls lock in the price where investors can buy a stock, letting them position for a rally at limited cost with the potential for significant leverage. They carry less risk than owning shares because the most that can be lost is the price of the options no matter how far the stock might fall.

SNE popped 3.34% today to close at $51.33. The Japanese electronics giant rose after Third Point disclosed a $1.5 billion stake and a push for the conglomerate to spin off its image sensor arm.