$LEAP Rockets Higher After Hours, Option Action Reeks

I'll have more on this later on tonight and this weekend. AT&T has bought out $LEAP and the stock is up more than a 100% after hours. One glance at the option volume and you have to wonder just how many knew of this before hand and traded options to capitalize on this move.

For instance the $9 July strike had a total of 10 contracts trade hands in 2 months. 18 Minutes before todays close over 1,200 calls were bought. Pure luck? Just some lucky trader with some money to throw around? We've seen this before.

Check the other strikes. Its astonishing.

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Profile photo of uranium-pinto-beansKnown to most as Uranium Pinto Beans, Jason has more than 15 years under his belt of trading stocks, options and currencies. His expertise primarily lies in chart analysis, and he has a strong eye for undervalued stock. Because he’s got the ability to identify great risk/reward trades he usually enjoys taking the path less traveled and reaping the benefits from the adventure.

He is a co-founder of Option Millionaires, and he is best known for his weekly webinars with Scott, as well as his high level training webinars and charts found in the forums.

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