Getting LONG BK based on a Unusual Options Activity
The Bank of New York Mellon Corporation provides various financial products and services worldwide and the stock has been under performing the stock market, but I think it is time to rip to the upside. Today we saw a trader buy almost 10,000 BK Sep 35 Calls for $1.08 which was over 6.0 times the normal volume in a day and control over 1 Million Shares of Stock. We continue to see bullish activity in the KRE, so I bought these Calls for $1.09 as this trader is making over a $1 bet in this stock.