The Southern Company (SO) Options Catch Fire
It appears the smart money knows something big is going on with The Southern Company (NYSE: SO) as large options buys by the “wiseguys” lit up the ticker tape today.
Southern Compay saw strong wiseguy options activity in the Aug $46 calls earlier this week, with 7000 + August 46 calls picked up. Now another large trade in the August $46 calls this afternoon bringing the total to 23,800 SO August $46 calls traded, 19x usual option volume for Southern.
SO is currently trading at $44.43 today, up $1.00 on the day.
Big option buys and sells can be an indication of insider knowledge of earnings, mergers, or some other material fact. While this is illegal, it happens every day around the world. The SEC just has no ability to police insider trading, so your best bet is to watch for what the “smart” money is doing and do the same thing.
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