Bulls Banking on Hudson City (HCBK)

Shares of Hudson City Bancorp, Inc. HCBK are flat on the session, currently trading at $12.28. The stock has been moving largely lower over the past six months, but has recently managed to regain the 50-day moving average, which is a bullish sign. Options traders are buying calls on the name today as well, echoing this bullish tone. A short while ago the October $12.50 strike was purchased 1,019 times, on the offer, for $0.20; open interest on the strike is 4,661 contracts. Call volume is now running at2.04x the daily average with 91% of all calls traded being purchased on the offer. 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. Hudson City Savings is a federally chartered stock savings bank. It conducts its operations out of its corporate offices in Paramus in Bergen County, New Jersey and through 131 branches in the New York metropolitan area. It operates 95 branches located in 17 counties throughout the State of New Jersey. For more great research like this, as well as how to play it through options…please visit Benzinga's Options & Volatility Edge and Benzinga's Cash Generator.