- A trader or group of traders purchased half a million call options on Bright Health Group, Inc. for $5 million.
- The options price had to be adjusted due to a recent reverse stock split, changing the option symbol and cash in lieu amount.
- The buyer(s) spent close to $5 million for the right to buy an asset if it rallies at least 1,462% to above $2.50 by the Nov. 17 expiration date.
- The trader is either incredibly bullish on the company or simply mistaken, with the trade looking too good to be true.
- Options trades on microcaps are unusual, and when they look too good to be true, they usually are.
Central banks around the world are pausing tightening campaigns as inflation eases and economies slow. Inflation-targeting regimes are keeping their own houses in order, while the US Fed's key inflation gauges fell to the slowest annual paces since late 2021.
Two massive earthquakes on Monday have devastated cities and towns across Turkey and Syria, with death toll of over 16,000. This is one of the worst natural disasters this century, alongside the 2004 Sumatran Tsunami, 2010 Haiti earthquake and 2008 Cyclone Nargis.
A raft of U.S. data and European inflation numbers will give guidance on how the world's top central banks will navigate the way ahead, including the hotly debated "no landing" scenario. Reports on U.S. durable goods orders, home prices, manufacturing and consumer confidence threaten to cement expec