Notable profits for the buyer who lifted the $0.05 offer for 2,000 Phoenix New Media (FENG) May-23 2.5 calls yesterday at 09:31ET when underlying shares were trading at $2.54. Shares closed at $3.00, and the calls at $0.43 for a mark-to-market profit of 758%, or $76K, on the $10K outlay.
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Published first on TheFly