Calls Purchased on HSBC Holdings (HBC)

Shares of HSBC Holdings HBC are higher on the session by 2.21%, currently trading at $53.62. The stock has been moving largely sideways over the past six months, though it is currently trading above the 50-day and 200-day moving averages. Options traders are buying calls on the name today. A short while ago the June 2011 $57.50 call was purchased 5,900 times, on the offer, on open interest of only 1,133 contracts. This signals new positioning on the name. Overall call volume is now running at 2.25x the daily average with 87% of all calls traded being purchases on the offer. HSBC Holdings plc is a global banking and financial services company. Through its subsidiaries and associates, HSBC provides a range of banking and related financial services.