One investor is ringing the register in Hasbro while looking for
, our Heat Seeker tracking program detected the purchase 2,000 June
35 calls for about $1.10. The toymaker then pushed higher, causing
those contracts to shoot up in value.
Today they were sold for $2.08 as an equal number of June 37.50
calls were bought at the same time for $0.71, indicating that the
position was rolled to the higher strike. The investor collected a
credit of $1.37, so they got more than their money back and still
can make even more if the stock continues to climb.
HAS fell 1.29 percent to $36.50 in late morning trading and has
been bouncing in a range since the market crashed last summer. The
company, which owns brands such as Transformers and Milton Bradley,
has been struggling with weak demand in recent quarters. It was
after a poor earnings report that the stock fell last month,
drawing those initial buyers to the June 35s.
Overall option volume in HAS is triple the average amount so far
today, with calls outnumbering puts by 19 to 1.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.
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