Today we saw a trader buy over 5,000 ARNC November 23 Calls for $.80. I did buy these Calls and I am already up over $800 profits on this trade. I think the stock moves higher and this was the best signal of the day.
This is the power of Insider Buyer in the options market. This gives the trader the right but not obligation to buy almost 500,000 shares of ARNC between now and November expiration and for this right they paid $2.40 per 1 lot or almost $800,000 total. This is a big Insider Buyer of ARNC Calls. The right but not obligation to buy 500,000 shares might not seem like a big order, but that stock has only traded about 1,800,000 shares of stock today. This stock moves about $1 per day 1/3 of all days, so I think this stock could trade up to $23 by November expiration.