Heavy Call Buying in OpenTable 15 MInutes before Apple Announcement
At Monday's Apple (NASDAQ: AAPL) WWDC 2012 event, the company announced integration of OpenTable's (NASDAQ: OPEN) restaurant reservation service into iOS 6 and Siri. Just 15 minutes prior to that announcement, Benzinga reported a purchase of 4,690 October OpenTable 47.5 call contracts.
OpenTable was trading around $41.28 at the time of the option trade, but spiked as high as 45.85 on the announcement. 5,714 October 47.5 calls traded for the day.
OpenTable ended the day $42.31, a gain of 0.64%.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.