Options News
Game on for $SONY bulls
Bullish option traders have scored big profits in upside positions on Sony (SONY) today. On Aug. 27, Market Rebellion’s Unusual Activity Service found that 4,600 Weekly $105 calls, expiring today, were bought for $0.48 and $0.60 above the existing open interest of 89 contracts with shares at $102.96. Those calls sold for $3.23 this session, more than […]
Bullish option traders have scored big profits in upside positions on Sony (SONY) today.
On Aug. 27, Market Rebellion’s Unusual Activity Service found that 4,600 Weekly $105 calls, expiring today, were bought for $0.48 and $0.60 above the existing open interest of 89 contracts with shares at $102.96.
Those calls sold for $3.23 this session, more than 5 times their purchase prices. The stock rose 5.05% in the same time frame, showing how quickly options can far outpace their underlying shares.
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.
SONY finished trading this session at $108.25, up 2.68%.