Timely Twitter Trade From Yesterday

My youth was spent watching way too many Warner Brothers cartoons.  If you are like me then you know Sylvester the cat always struggled but never caught Tweety Bird.  A few firms were playing the role of Sylvester this past week and hoping to catch Twitter.  Apparently all the Sylvesters have gone away and no one is willing to catch Twitter, at least not in the mid-20’s.

When we have a big move in a stock that is somewhat unexpected I go to my Live Vol account and see if there were any option trades that got ahead of the move.  I didn’t have to look too hard as about 15 minutes before the market closed yesterday there was a buyer of 200 of the TWTR Oct 7th 24 Puts for 0.27.  As of mid-day today those same puts have a bid price of 4.15.  Not a bad return for a trade lasted less than 24 hours…