Shares of Lloyds Banking Group plc LYG are higher on the session by 1.97%, currently trading at $4.65. The stock has been moving largely higher over the past three months, off of a recent low near $3.00.
Options traders are betting that the stock moves higher still. The April 2011 $6.00 call was purchased 3,600 times, on the offer, a short while ago; open interest on the strike is only 10 contracts. This signals new positioning on the name.
Call volume is now running at 18.52x the daily average with 83% of all calls traded being purchases on the offer.
Lloyds Banking Group plc is a financial services group providing a range of banking and financial services, primarily in the United Kingdom, to personal and corporate customers. The Company operates in four segments: Retail, Wholesale, Wealth and International and Insurance.
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