Popular Responds to Heavy Call Volume

A spokesperson for Popular, Inc.

told Benzinga there is no specific news today to account for the spike in call volume. "The banking sector is rallying off of news coming out of Europe which pertains to creating a TARP-like program for their banks, allowing them to recapitalize and reduce default danger. As for BPOP, there seemed to be more buyers now than in the last few days. " Call volume on Popular was at 1,647% of average on Wednesday, with heaviest volume in the October 15 call with 5,485 contracts. Popular, Inc. closed at $14.76.