Long Term Bull Investing With Legg Mason (LM)
November 02, 2010 2:41 PM
Shares of Legg Mason, Inc. (NYSE: LM) are higher on the session by 2.62%, currently trading at $32.16. The stock has been moving largely higher over the past three months, bouncing off of the $25.00 level and rallying back above the 50-day and 200-day moving averages. Shares looked poised for another break out above $32.71.
Options traders are buying calls on the name today. A short while ago the January 2012 $30.00 call was purchased 2,500 times, on the offer, for $6.40 on open interest of just 225 contracts. This signals new positioning on the name.
Overall call volume is now running at 4.17x the daily average with 97% of all calls traded being purchases on the offer.
Legg Mason, Inc. is a holding company. Legg Mason is a global asset management company. Acting through its subsidiaries, the company provides investment management and related services to institutional and individual clients, company-sponsored mutual funds and other pooled investment vehicles.
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