BlackBerry Z10 picture worth a billion dollars in market cap
They say a picture is worth a thousand words. That’s probably true, but pictures like the one above that we published yesterday were worth more like a billion dollars…in market cap!
That’s because RIMM ran from a low of $11.68 to $13.60 as excitement and a VERY significant squeeze of the 51 million shares held by shorts caused a turnaround of $988 million in just hours today!
And the levered profits from the options of RIMM were SPECTACULAR!
Option Monster’s HeatSeeker showed 5,238 of the Weekly Jan 13 calls traded for less than a dime. Many for just a penny! Those calls traded to $.60 as nearly 20,000 calls traded on the session at this strike alone!
The gain on 5,238 calls from $.10 to $.60 is $261,900.
The January 12 weekly calls ran from a nickle to $1.59, a whopping return of nearly 3200%.