Upside Purchased on Bank of New York (BK)

Shares of Bank of New York Mellon Corp. BK are higher on the session by 5.54%, currently trading at $26.11. The stock has been trading largely lower over the past three months, off from highs near $32.70. Options traders are betting that the stock can rally from here. The September $26.00 call was purchased 2,100 times on open interest of 3,888 contracts and the September $27.00 call was purchased 1,800 times on open interest of 568 contracts. Call volume is now running at 2.01x the daily average. The Bank of New York Mellon Corporation is a global financial services company. The company's two principal banks are The Bank of New York Mellon, which houses its institutional businesses, including Asset Servicing, Issuer Services, Treasury Services, Broker-Dealer and Advisor Services and the bank-advised business of Asset Management, and BNY Mellon, National Association, a nationally chartered bank, which houses its Wealth Management business.