“Trade of the Day” Just Made Trader 90% Return in Two Weeks

Before the holidays, we wondered if KATE was a gift after spotting a trader buy 6,000 KATE April 15 calls.

[Yesterday, we discovered], the answer is clear.

Shares of Kate Spade KATE – NYSE soared more than 23% today when The Wall Street Journal reported the company is exploring a sale.

Bottarelli Research Translation: Even though expiration is still months away, the KATE April 15 calls have already nearly doubled. Originally purchased for $2.00 each, these calls closed [yesterday] worth $3.80. That’s a 90% gain ($1.08 million) in two weeks. According to an analyst on CNBC, Coach COH – NYSE or Michael Kors KORS – NYSE could be potential buyers, and KATE “should be trading in the $20s.” If a deal gets done, look for KATE to keep on rising.

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Source: Bottarelli Research