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Megatrade in Baxter International unwinds month-ago ratio collar for gain
The Fly

Megatrade in Baxter International unwinds month-ago ratio collar for gain

Megatrade in Baxter International unwinds month-ago ratio collar for gain. Largest trade in the market today is print on the Arca floor where a trader paid 20c for 69k Nov 32.5 puts and sold 49k Nov 35 calls for 8c, tied to a buy of 3.4M shares for $33.45. Appears to exit a a position opened on 10/12 when the trader sold the same qty of Nov 32.5 puts for 1.60 and paid 81c for 49k Nov 35 call vs a $32.50 hedge. With shares up 95c over the life of the trade, the options profit works out near $6M while the delta hedge difference is near $3.7M.

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