Leon Cooperman’s Winning Apple Play
After announcing it February that he had liquidated his shares of Apple in February and bought Facebook, Leon Cooperman of Omega Advisors told CNBC on Thursday how he got back in — and won.
"We did get back in," he told CNBC's "Fast Money" at the SALT Conference in Las Vegas.
(Read More: Leon Cooperman Sells Apple Stake, Buys Facebook)
Cooperman added that he had bought Apple stock in the "lower $400s," noting that it was a small position.
But he played options for a fast, winning trade.
"About two weeks ago, I bought a January 400 call, sold a January 460 call and I sold a January 325 put, zero. No cost. Took about $30," he said.
"We didn't do enough size unfortunately," Cooperman added. "We couldn't get it done."