Two blocks of more than 2,800 June $50 puts to sell Fortune, the maker of Jim Beam bourbon and Titleist golf balls that’s planning to break itself up, traded at 9:58 a.m. in New York, one at 65 cents each and one 70 cents each, data compiled by Bloomberg Rod Spittle Lead In The Second Chance show. The open price for the contract was 65 cents. Open interest for the June $50 puts was 166 before today. The Deerfield, Illinois-based company said Dec. 8 it would split into three separate businesses and focus on distilled spirits, after activist investor William Ackman acquired a stake. The company will spin off its home and security division and sell or spin pub golf rules off the golf unit, Fortune said in December. The stock has gained 20 percent in the past year, compared with a 16 percent increase for companies in the Standard & Poor’s 500 Index that are dependent on consumer discretionary spending.
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