Bulls Swarming XL Group (XL)

Shares of XL Group plc XL are higher on the session by 2.30%, currently trading at $20.04. The stock has been moving largely higher over the past three months, off from recent lows near $15.50. Note that $20.00 is first resistance. Options traders are buying calls on the name today. The September $20.00 call was purchased 4,400 times, on the offer, on open interest of 816 contracts and the September $21.00 call was purchased 2,200 times, on the offer, on open interest of 59 contracts. The January 2011 $25.00 call was also purchased 10,000 times on open interest of 1,350 contracts. Note that there has also been call buying on the October $21, $22, and $23 strikes. Volume exceeded open interest on all three strikes. XL Group plc, through its subsidiaries, is a global insurance and reinsurance company providing property, casualty and specialty products to industrial, commercial and professional firms, insurance companies and other enterprises on a worldwide basis. The company operates through three segments: Insurance, Reinsurance and Life Operations.