The Blackstone Group LP Sees a Large Option Block Trade

Alternative asset management and financial advisory services provider The Blackstone Group LP BX sees a Block of 30k January '13 15 Calls purchased on the offer of $0.78 and it appears to be tied to a block of 1.2 mil. shares at $13.83. The volume from this trade accounts for more than 5 times BX's average daily Call activity and pushes total contract volume to 8 times the Companys' daily average. This delta neutral trade will be looking for implied vol to pop in the coming months (currently 33%) and will need the stock to have a substancial price move by January expiration to help offset the Option premium paid today.