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How a trader just made $2.4 million in half an hour

From cnbc.com

In a very well-timed trade, a trader made over $2 million in just 28 minutes, playing what could be one of the biggest tech deals this year. The Wall Street Journal reported on Friday that Intel is in talks to buy competitor chipmaker Altera. Shares of Altera shares soared 28 percent when the report was released, valuing the company at $13.4 billion by the end of trading on Friday. For one trader, the report allowed for incredible profits in a very short amount of time. On Friday at 3:32 pm EDT, Journal M&A report Dana Mattioli tweeted: Within seconds, a trader jumped into the options market and bought 3,158 ... (full story)

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  • Category: Breaking News