Iger, who exercised 1 million Disney options last week netting nearly $18 million, bought $1 million worth of Apple in the last hour of trading Monday.
The timing issue is that Apple soared more than $35 that day — its second-largest-ever one-day dollar gain.
“Had he bought at the open he would already have made a killing,” notes Neal. “As it is, he probably still bought at a pretty good price.”
To be precise, Iger paid an average of $563.35 for 1,780 shares of a stock that opened that morning at $540.71, a difference of $40,306.
He got a better deal last November, shortly after joining Apple’s board, when he bought $1 million worth of Apple for about $375 a share.