Unusual options activity on Dick's ahead of buyout rumors

• Hundreds of January 2015 call options with a $53 strike price were purchased just after noon, just before reports surfaced that Dicks (NYSE:DKS) was holding informal buyout conversations with PE firms.
• The options netted the buyer nearly $450,000 on a $50,000 investment when the price skyrocketed after DKS shares, which had been halted, resumed trading.
• Fortuitous trades on Wall Street ahead of deal announcements are commonplace.