ADM – Archer-Daniels Midland Co. – Shares of one of the world’s largest processors of oilseeds, corn, wheat, cocoa and other feedstuffs are up 1.7% to stand at $27.14 as of 11:45 am (ET) after earlier rallying more than 2.1% to touch an intraday high of $27.25. Investors itching for continued bullish movement in the price of the underlying stock purchased call options on the vegetable oil manufacturer this morning. Traders picked up approximately 4,400 calls at the now in-the-money September $27 strike for an average premium of $1.24 apiece. Call buyers make money as long as Archer Daniels’ shares rally 4.05% over the current price of $27.14 and trade above the average breakeven point on the calls at $28.24 ahead of expiration day in September.
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