Bulls Buying Calls on Blackstone Group (BX)

Shares of The Blackstone Group L.P. BX are higher on the session by 2.16%, currently trading at $17.53. The stock has been moving largely higher over the past six months and is currently trading above the 50-day and 200-day moving averages. Options traders are buying calls on the name today. Heavy call volume can be seen on the January 2012 $20.00 strike, where 48,000 contracts have traded on open interest of only 17,415 contracts. Overall call volume is now running at 6.36x the daily average with 88% of all calls traded being purchases on the offer. The Blackstone Group L.P. is a manager of private capital and provider of financial advisory services. The company is an independent manager of private capital with assets under management of $98.2 billion, as of December 31, 2009. Blackstone provides a range of financial advisory services, including corporate and mergers and acquisitions, restructuring and reorganization and fund placement services.