MBIA Inc (MBI) $11.56 +3.31%
MBIA (MBI) shares add 41 cents to $11.60 and a noteworthy options trade today is a block of 17,180 Nov 11 calls at $1.05 on ISE. It’s an opening customer buyer, according to ISEE data. The big premium purchase comes as shares of the mortgage insurance company notch a new 52-week high today, up 110 percent since July 1. Next earnings expected early November.
Category: All Stocks, Insurance, Mid Cap Stocks
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About the Author (Author Profile)
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.
They have an unrealized profit of about $2.1 million on that massive block of calls. Wow, this thing is running. Sector play it looks like. I’ll write a note about ABK a little later.