Schaeffer's Daily Option Blog: Bullish Credit Spread Activity for General Electric Co. (GE)
CINCINNATI-(Business Wire)-September 29, 2009 - General Electric Co. (NYSE: GE) saw an unusual bullish option spread earlier today. At about 10:20 a.m. Eastern time, 15,330 GE November 16 puts traded on the International Securities Exchange (ISE) for the bid price of $0.71, or $71 per contract.
At the same time on the same exchange, another 15,330 contracts traded on the GE November 18 call for the ask price of $0.67, or $67 per contract. Open interest at both strikes was far less than today's volume, indicating that the puts were sold to open and the calls were bought to open, thus initiating a bullish credit spread on GE.
To continue reading this article, click here: http://www.schaeffersresearch.com/marketcenters/optionscenter/default.aspx?id=95439&source=businesswire
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