Pursuits
One Trader Just Made $1.7 Million on AB InBev's Impending Offer
- A block of 6,500 bullish options changed hands yesterday
- Call volume surged before AB InBev's plan to bid for SABMiller
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A single trade, made yesterday, wagering that shares of Anheuser-Busch InBev NV would surge is now paying off big time.
A block of AB InBev calls betting on an 11 percent advance in the next three months changed hands on Tuesday, sending volume of bullish options to its highest level since April 2014. The trade cost 1.09 million euros ($1.2 million), and is now worth more than 2.63 million euros. Shares soared as much as 12 percent today after the Budweiser maker said it wants to bid for SABMiller Plc.