An investor reaped substantial benefits from a strategic options trade involving AT&T (T) on Tuesday. The buyer purchased 7,400 June 2025 put options at a strike price of $25, each priced at $0.64, when the stock was trading at $26.73 per share.
By the closing bell, AT&T's stock had dropped to $26.33. This move increased the value of the put options to $0.81 each, resulting in a mark-to-market gain of 27%. The investor's initial expenditure of $474,000 on these contracts translated into a profit of approximately $127,000 by the end of the trading session.
