Upside Purchased on Manulife Financial (MFC)
July 13, 2010 1:28 PM
Shares of Manulife Financial Corp. (NYSE: MFC) are flat on the session, currently trading at $15.15. The stock was trading higher all morning long, but has since sold off within the past twenty minutes, back to even.
Options traders are buying calls on the name today. Though action has been primarily in small lots, call volume is now running at 2.5x the daily average with over 75% of all calls traded being purchases on the offer.
Traders are focusing on the $15.00 strike is multiple months.
Manulife Financial Corporation is a Canada-based financial services group, serving customers in 22 countries and territories around the world. The company provides financial protection and wealth management products and services, to individual and group customers in Canada, the United States and Asia.
