Lloyds Banking Group (LYG) adds 17 cents to $3.95 and options volume is 7X the avg daily, driven by Jan $4 call buyers. The top trade is 631 at the 35-cent ask price. 2,009 now traded vs. 1,274 in open interest. Shares of the British bank had suffered an 11-day 15 percent slide prior to today, but are up Wednesday on a rebound in the euro, European equity markets, and diminishing worries about the European Debt Crisis.
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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.