Big returns from Williams weeklies
David Russell | [email protected]
On Tuesday, optionMONSTER's Heat Seeker tracking system detected unusual activity in the Weekly 34 calls expiring this Friday. Buyers paid as little as $0.08 to open positions, and the largest block priced for $0.17.
Then the fireworks hit yesterday as energy stocks rallied early. Shares of the energy-pipeline operator inched higher throughout the session, at one point appreciating 2.1 percent. But that was nothing compared with the move in those weekly calls, which shot as high as $0.55--a gain of 200 percent.
The move shows the kind of leverage that can be generated with weekly options, short-term contracts designed for timing the market--down to the day and sometimes to the hour. Use our proprietary monitor every day to track these instruments.
WMB ended yesterday's session up 1.66 percent to $34.35.