Tuesday November 17, 08:45 PM
STOCKS NEWS US-Traders eye Sara Lee calls after WSJ report
Stocks on the move
Real (Frankfurt: BJU.F - news) -time Equity news
U.S. stock market report
1525 ET 17Nov2009-Traders eye Sara Lee (NYSE: SLE - news) calls after WSJ report
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Sara Lee Corp shares rose and its call options attracted interest
after the Wall Street Journal reported that privately held S.C. Johnson & Son
Inc has joined the bidding for the company's air-freshener unit. Sara Lee
shares rose 1.8 percent to $12.19, reaching a new high for the year. S.C.
Johnson and Sara Lee declined to comment. A deal for the unit, which could
fetch more than $700 million, could still be weeks away, the newspaper said in
its electronic edition.
Sara Lee calls at the December $12.50 strike were active, with 1,112
contracts traded and 98 percent hitting ask-side, suggesting some investors
appear to be looking for good news by mid-December, said WhatsTrading.com
option strategist Frederic Ruffy. He added that customers bought fresh call
positions on the International Securities Exchange, according to ISEE data. In
all, about 1,693 SLE calls traded, nearly four times the number of puts,
according to Trade Alert.
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