Here’s what someone did yesterday and made the biggest option purchase list:
Synaptics (SYNA): An investor bought 3500 May 60 calls for $4.30 and $4.40, looking for the stock to keep rallying. SYNA rose 1.51 percent to $60.54.
That means this person thinks that by May his 350,000 shares of SYNA will be higher than $64.35. That also means he laid out $15,225 on this bet and come May, he’ll either cough up ,$21,000,000 more or lose his $15K.
Pretty good conviction and I for one am cheering him on, (though I added some today below $60).
PS don’t duplicate the above until you have checked my math. I’m bad with decimals