Today we saw a trader buy over 8000 WDC September 58 Calls for $.65. We had members in the trading room who personally emailed me to let me know that they made almost 100% gains on these Calls in hours.
This is the power of Insider Buyer in the options market. This gives the trader the right but not obligation to buy almost 800,000 shares of WDC between now and September expiration and for this right they paid $65 per 1 lot or almost $500,000 total. This is a big Insider Buyer of WDC Calls. The right but not obligation to buy 800,000 shares might not seem like a big order, but that stock has only traded about 6,000,000 shares of stock today. This is very interesting due to the fact that the stock hit a 52 week low today and bounced.
