Maury, Maury, Maury!
Admiral SPO Puts his Mark on Microsoft.
Knowing Maury’s thirst for shekels and his motto of "the best things in life are FREE" the Admiral launched a timely pre-earnings trade, a call time back spread.
Maury, known for his Pavlovian behavior jumped in! On Thursday, October 20th, the day Microsoft earnings were scheduled to come out after the bell, one day prior to OCT options expiration
Admiral sent out the mother of all Maury trades at 2:56 PM CT:
Sell 3 MSFT OCT21 57 Calls and Buy 5 NOV18 57.50 Calls.
MSFT was trading at $57.15 when the trade was sent out and Maury immediately established the trade for $3.44 and awaited the earnings news. Sure enough, Nadella/MSFT CEO delivered a great 3rd quarter results and the stock rallied.
Next day, on October 21, Admiral sent out the order to sell and close the spread at 8:54 CT. Maury, with finger on sell button ready launched his exit at the opening collecting $5.25 for a 53% profit.
Relishing his conquest, Maury with that confident swagger, went whistling to the pub. You'd think he would offer to buy Admiral a pint, but Maury will always be Maury!