E*Trade Looks To Pop (ETFC)

Shares of E*TRADE Financial Corporation ETFC are higher on the session by 4.40%, currently trading at $15.19. The stock has been moving in a bottoming pattern over the past six months, forming a rough double-bottom along the way. There has also been chatter this morning that ETFC's CEO is meeting with investment bankers to negotiate a deal with Charles Schwab SCHW, though that is unconfirmed. Options traders are buying some calls on the name this morning. A short while ago the October $16.00 call was purchased 4,000 times, on the offer, on open interest of 2,190 contracts. The November $17.00 call was also bought 718 times on open interest of 408 contracts. Call volume is running at 2.5x the daily average, 75% of the offer. E*TRADE Financial Corporation is a financial services company, which provides online brokerage and related products and services to the individual retail investors, under the brand E*TRADE Financial. It also provides investor-focused banking products, sweep deposits and savings products, to retail investors. 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.