Calls Purchased on H&R Block (HRB)

Shares of H&R Block Inc. HRB are lower on the session by 7.04%, currently trading at $14.40. The stock has been trading largely lower over the past six months, but is cratering even further this morning on news that its CEO has resigned. Options traders are betting that the stock could rally, though. The January 2011 $15, $17.50, $19, and $20 strike calls have each been purchased over 2,400 times. The heaviest action is on the $20.00 call, where 9,800 contracts were bought on open interest of just 2,011 contracts. Call volume is now running at 25x the daily average. H&R Block, Inc. has subsidiaries that provide tax, banking, and business and consulting services. The company's Tax Services segment provides income tax return preparation, electronic filing and other services and products related to income tax return preparation to the general public primarily in the United States, and also in Canada and Australia.