One trader's bullish bet in Kraft Foods Group Inc's options is set to turn a $700,000 bet into a possible paper profit of as much as $19 million.The company's proposed merger with ketchup maker H.J. Heinz Co sent shares of the maker of Velveeta cheese up by more than 40 percent - but the gains pale in comparison to the jump in the value of its options.Kraft Foods' shares jumped as much as 43 percent to an all-time high of $87.88 on news that the company would merge with the ketchup maker, owned by 3G Capital and Warren Buffett's Berkshire Hathaway Inc, to form North America's third-largest food and beverage company.Notable bullish trading in Kraft options prior to the deal was limited. But on March 10, someone bought a 10,000 lot of Kraft call options, usually used for placing bullish bets on the stock, for 70 cents. The calls were set to expire on June 19 and were betting on the shares rising above $67.50 by that date. The shares were $61.65 at that time.
Berkshire Hathaway Inc. (Berkshire) is a holding company owning subsidiaries engaged in a number of diverse business activities. Shares of BRK-A fell by 0.05% or $-110.0/share to $216895.00. In the past year, the shares have traded as low as $181785.00 and as high as $229374.00. On average, 300 shares of BRK-A exchange hands on a given day and today's volume is recorded at 373.
Berkshire Hathaway Inc. (Berkshire) is a holding company owning subsidiaries engaged in a number of diverse business activities. Shares of BRK-B fell by 0.33% or $-0.48/share to $143.81. In the past year, the shares have traded as low as $121.09 and as high as $152.94. On average, 3687790 shares of BRK-B exchange hands on a given day and today's volume is recorded at 2352238.
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