Options Players Bullish On Sotheby’s (BID)

BID – Sotheby’s  – Shares of the auctioneer of authenticated fine art, antiques, decorative art, jewelry and collectibles shot up 7.05% in the first half of the session to touch an intraday high of $28.49. Investors expecting the price of the underlying stock to continue to appreciate through October expiration initiated bullish positions on the stock today. Plain-vanilla call buying took place at the October $30 strike where approximately 1,700 calls were picked up at an average premium of $1.35 apiece. Traders holding these contracts make money if the auctioneer’s shares rally another 10% to surpass the average breakeven price of $31.35 by expiration day in October.

About Andrew Wilkinson 1023 Articles

Affiliation: Interactive Brokers

Andrew Wilkinson is the senior market analyst at Interactive Brokers Group, where he provides daily commentary and analysis on U.S. equity options trading throughout the trading day. Andrew provides webinars designed to explain option-related trading scenarios covering futures, fixed income, forex and equities.

Interactive Brokers: Interactive Brokers offers direct market access to around 80 electronic global markets from a single account. Successful traders and investors understand that superior technology and lower trading costs can result in greater returns. For 32 years we have been building direct access trading technology that delivers real advantages to professionals worldwide. With consolidated equity capital of US $4.4 billion, IB and its affiliates exceed 1,000,000 trades per day. In addition, our prudent and conservative risk policies make Interactive Brokers a safe haven for your money. Discover some of the reasons why IB, the largest independent US broker/dealer, is the professional traders' and investors' choice.

Visit: Interactive Brokers

Be the first to comment

Leave a Reply

Your email address will not be published.