Options Traders See 11% Gain for Viacom
Note: This post was written by Brian Stutland, President of Stutland Equities and a contributor to CNBC's "Options Action."
Yesterday we saw some bullish action in Viacom , with one options trader buying 60,000 December 60 calls for $0.50 each with the stock at 54.59.
This is an aggressive bullish bet that the stock will continue its strong uptrend into the end of the year.
This trade breaks even if VIAB is at 60.50 at December expiration, which would require an 11% move up in the next 87 days. Perhaps the trader was playing off an analyst call from yesterday – Deutsche Bank raised their price target on the stock from $57 to $62, citing improving Nickelodeon ratings.
Sector Watch - Media Companies
- Time Warner, Inc
- Walt Disney Co
- CBS Corp
- News Corp.
Brian Stutland is the President of Stutland Equities and a contributor to CNBC's "Options Action."
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