Options Trader Bets $16.6 Million on 9% S&P 500 Rally
This article is for subscribers only.
An investor bought $16.6 million in call options on the Standard & Poor’s 500 Index, a strategy that will be profitable if the U.S. equity benchmark rallies in the next five months.
The trader purchased 17,800 March calls with a strike price of 1,925 on the S&P 500, making it the most-traded contract on the index, according to data compiled by New York-based Trade Alert LLC. The person, who picked up three other bullish options on the stock gauge, will make money on all the contracts should the S&P 500 advance more than 9 percent by March.