Shares of bond insurer PMI Group (PMI, news, chart, volatility) are up nearly 15% today to $2.97 at the broad market climbs and a number of sub $5 financials show significant strength (see CIT, ABK). PMI options flow is extremely bullish, with call buyers dominating the action, and driving prices from 20 cents to 40cents for more than 4000 Dec 5 calls.