Calls Purchased on Hudson City Bancorp

Shares of Hudson City Bancorp HCBK are lower on the session by 0.96%, currently trading $12.38. The stock is vastly outperforming the overall market today. HCBK has been falling hard as of late and it is trading well below the 50-day and 200-day moving averages. The stock also looks like it has broken through the $12.50 support level, which is a bearish sign. I am detecting call buying in the name today. The June $10 strike was purchased on the offer 2,100 times today, open interest on the strike is 2,030 contracts. It is possible that someone purchased these calls as hedges to short stock. Hudson City Bancorp, Inc. serves as the holding company of its only subsidiary, Hudson City Savings Bank. The principal asset of Hudson City Bancorp is its investment in Hudson City Savings Bank.