The Most Unusual Trade of the Day
Last week, we tipped you to an unusual call options order following a textbook technical breakout.
It seemed like this trader was riding coattails for follow-on gains after Exact Sciences EXAS – NASDAQ surged 10%, but now it’s clear this professional knew exactly what he was doing.
[Yesterday], EXAS shot higher by another 19% after the company guided Q4 revenues above consensus estimates.
The EXAS January 16 calls originally bought for $0.45 finished today’s session worth $2.23, returning a 396% profit in just a few days. That’s what we call starting the year off hot.
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Source: Bottarelli Research