Disney's CEO buys $1M of Apple, leaves $40K on table

Bob Iger bought 1,780 shares at the last hour Monday. He shouldn't have waited.

Iger

FORTUNE -- "Talk about timing," writes reader Jim Neal, who spotted an SEC Form 4 filed Tuesday by Disney (DIS) CEO -- and Apple (AAPL) board member -- Bob Iger.

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.