Bloomberg News reports that a block of AB InBev calls betting on an 11% advance in the next three months changed hands on Tuesday, sending volume of bullish options to its highest level since April 2014.
The trade cost $1.2m, and was worth more than $2.96m Shares soared as much as 12% day after the Budweiser maker said it wants to bid for SABMiller Plc.
'That was such a clever trade', said Steve Schlemmer, who specializes in European merger arbitrage at Churchill Capital UK in London. 'Everyone was rooting for this one - it had been rumoured forever, and it makes perfect sense'.
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