An unknown Wall Street trader reportedly hit a jackpot worth $5 million after betting on Warner Bros Discovery stock — just hours before news broke that Paramount Skydance is eying a bid for the floundering media giant.
Just after 11 a.m. ET on Thursday, the unidentified investor splashed out nearly $6 million on 100,000 Warner call options — a contract between two parties to exchange an asset at a set price with a fixed period of time – when the company’s shares were trading at $13.10, according to Bloomberg News .
A Wall Street journal report of a possible takeover bid by Paramount-Skydance sent the media giant’s stock surging on Thursday. REUTERS
The contracts granted the mystery buyer the right to snap up 10 million shares in Warner Bros , which owns the Trump-bashing, left-