How a trader made 275% profit in minutes
From cnbc.com
Quick-handed traders made some pretty profits in Avon this week. Trading for the cosmetic company were halted Thursday afternoon on Wall Street Journal reports that the company was in talks with private-equity firms to sell itself. The stock was halted at 1:46 p.m. Eastern, and when it reopened minutes later, shares soared more than 11 percent before fading to a 52-week low into the close. But some smart options traders were able to cash in on the news. "Options volume ran four times its daily average on Thursday," Dan Nathan told CNBC's "Fast Money" on Thursday. "And the stock saw a flurry of call buying today at ...
(full story)