The bulls are targeting National Bank of Greece as the country
expects to exit its recession next year.
optionMONSTER's Heat Seeker scanners detected massive call volume
buying in the European lender, most of which focused on the January
6 strike. Traders amassed more than 28,000 contracts, almost all of
them going for the $0.20 ask price in a strong buying pattern.
lock in the price where shares can be purchased, giving them
potentially huge leverage if the stock continues to climb.
Investors use them to make sure they don't miss a rally while
limiting the amount of capital at risk if the stock tanks. (See our
NBG rose 16 percent to $5.33 yesterday, following a gain of 10
percent on Friday. It's the latest stock among the once-distressed
European financials to start rallying. Others such as Bank of
Ireland, Banco Bilbao Vizcaya, and Banco Santander have been
strongly outperforming the broader market over the last three
months. (See our
Overall option volume in NBG was 33 times greater than average in
the session. Calls accounted for a bullish 90 percent of the total.
(A version of this post appeared on
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