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Kellogg Traders Bet on Buffett Takeover as Stock Climbs: Options
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Kellogg Co. options traders haven’t been this bullish in seven years as speculation increases that Warren Buffett’s Berkshire Hathaway Inc. may make an offer.
Options volume jumped last month and the cost of bullish contracts is the highest since 2007 relative to bearish ones, according to data compiled by Bloomberg. Among the 10 options with the highest ownership, seven were bullish. The shares have climbed 18 percent since the start of February as traders bet the maker of Corn Flakes and Pop Tarts would be acquired.