Furiex Pharmaceuticals, Inc. operates as a drug development company that is involved in compound development and collaboration activities primarily in the United States. Every single day I watch Unusual Options Activity and talk to my subscribers about the trades at www.keeneonthemarket.com I watch over 1,500 trades daily and yesterday I saw a trade that was so unusual that I thought it was worth mentioning. A trader bought 2,000 FURX June 105 Calls for $3.90. Lets breakdown their trade:
Institutional Order: Trader bought 2,000 FURX June 105 Calls for $3.90
Cash Outlay: $780,000
Potential Profit: Unlimited
Overnight the Stock gapped higher and these Calls have moved in value from $3.90 to $5.30, so lets breakdown their profits:
2,000 * 1.4 * 100= $280,000 Profits