Hudson City Bankcorp (HCBK, news, chart, volatility) is seeing unusual order flow. Shares of the Paramus, NJ savings and loan are up 20 cents to $14.01 and options volume is running at three times the normal levels. 4,600 calls and 570 puts traded. Volume is focused on the July 17.5 calls and looks like speculative call buying, as 91 percent of today’s 3,180 contracts traded offer-side.
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Frederic Ruffy is a well-known trader, writer, and strategist who has spent years educating investors and creating intelligent, insightful, unbiased market observations that are frequently cited by the Wall Street Journal and other financial publications. As senior analyst, Fred provides frequent and regular notes and daily updates for activity of interest.