$MSFT buyout of $LNKD created some massive gains for CALL options.
One particular strike surged over 200,000% yesterday. From $.02 to over $43 each. There was a late trade of these options on Friday for roughly $300. The same trade yesterday morning was worth almost $700,000. Yes $300 to $700,000 in less than a full trading session.
We've seen similar option moves in the past on buyouts with tremendous potential gains.
Back at the lows in February $LNKD briefly dipped under $100 a share before finding support. I mused at the time the stock could be setting up for a 40% move higher.
Ultimately it ended up being an over 90% move to the upside. And now the chart can be put to rest.
