Calls Sold on SVB Financial (SIVB)

Shares of SVB Financial Group (NASDAQ: SIVB) are lower on the session by 4.69%, currently trading $42.68. The stock has been gyrating between $42.50-45.00, but looks to be in jeopardy of breaking down through the 200-day moving average.

Calls are being sold on the name, namely the August $50 call, which was sold near the bid 1,000 times for $1.23. Call volume is running at 10.85x the daily average today.

SVB Financial Group is a diversified financial services company, as well as a bank holding company and financial holding company. Through its various subsidiaries and divisions, the Company offers a variety of banking and financial products and services.