Two days ago a trader bought over 50,000 Schlumberger (SLB) June 17 $47 calls, paying between $0.60 and $0.80. They are now worth $2. The trader is up over $6 million on the tradeHe or she has not closedWhy? Because SLB is probably going to $50 a shareThe $47.50 calls for next week cost about $0.80. These are going to double or triple by this time...
Read the full story and get access to the Real Money Pro trading floor.
There's no substitute for a trading floor to get great ideas, so Jim Cramer created a better one at Real Money and blogs there exclusively. We then added legendary hedge fund manager, Doug Kass, with his exclusive Daily Diary and best investing ideas. Staffed with more than 4 dozen investing pros, money managers, journalists and analysts, Real Money Pro gives you a flood of opinions, analysis and actionable trading advice found nowhere else, and allows you to interact directly with each expert.