Rochester, NY 7/30/2009 1:33:33 AM
Industrial Select Sector SPDR XLI, XLI Continue to Gain a Market High
Industrial Select Sector SPDR
One lucky investor who pinpointed the bottom for stocks to within 24 hours appears to have banked gains and rolled the dice again using the basket of stocks representing the industrial sector.
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The well-timed transaction has awoken the option trader who today closed the long call position at the 18 strike in exchange for the same amount of April call options at the 20 strike. Those calls were traded at 1.50 today representing a $37.5 million premium netting the investor a handsome $30 million gain in two weeks.
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