Is Northern Trust Being Shopped? (NTRS)

In a tough tape, shares of Northern Trust Corp.

are dramatically outperforming. Currently, shares are higher by 0.73%, trading at $49.50. The rumor of the day is that the company is being shopped by a European suitor. Some say that Jamie Dimon of J.P. Morgan

is also taking a look at the Chicago-based company. Options traders are buying upside on the name today across many upside strike and multiple months. The August $50.00 call traded 1,200 times on open interest of 4,261 contacts, the August $55.00 call traded 1,900 times on open interest of 797 contracts, and the September $55.00 call traded 4,600 times on open interest of 17,314 contracts. There has also been call buying in smaller lots in all months, on strikes as high as $60.00. Northern Trust Corporation is a financial holding company, which provides asset servicing, fund administration, investment management, banking and fiduciary solutions for corporations, institutions and affluent individuals worldwide. The company conducts business through various United States and non United States subsidiaries, including The Northern Trust Company.