$BHI Call Buyers on Friday score Big Pay Day Today

$BHI closed Friday at less than $60 a share after starting the week under $50.  This morning the stock is  set to open near $70 share as it has been acquired by Halliburton.

On Friday many option strikes saw unusual action namely the December strikes  $60, $62.50 and $75 as Speculators piled into the calls betting that $HAL would bid up $BHI's share price.  Those speculators stand to make a significant profit this morning when $BHI opens for trade as their options will have more than doubled in price.

Just an honest speculative bet on the $HAL buyout?  Or did someone know something?

Heading into Friday those December strikes had no interest, but that interest absolutely exploded on Friday:

A 123 open interest to almost 24,000 for the $62.50 calls and from an open interest of 4 to almost 26,000 on the $65 calls.


Known 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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