"Home Depot is up on speculation that Eddie Lampert is building a position in the shares," said Tim Biggam, options strategist at Man Securities, an option brokerage firm in Chicago.
"This rumor has prompted enormous option volume on the call side as hot money players buy first and ask questions later."
Lampert, the hedge fund manager who brought Kmart out of bankruptcy in 2003 and engineered the takeover of Sears, Roebuck & Co last year, is chairman of Sears Holdings Corp. (Nasdaq:SHLD - news), the No. 3 U.S. retailer.
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"This rumor has prompted enormous option volume on the call side as hot money players buy first and ask questions later."
Lampert, the hedge fund manager who brought Kmart out of bankruptcy in 2003 and engineered the takeover of Sears, Roebuck & Co last year, is chairman of Sears Holdings Corp. (Nasdaq:SHLD - news), the No. 3 U.S. retailer.
Read the complete news
