I have accumulated some Jan 3 call options in BPOP. I also own this name in common shares and am looking for a fundamental turn around story in this name with my thesis that 2011 will be a good year for the financials.
Here is a link to John Paulson's holdings of BPOP, this is information I researched in December 8, 2010. He has accumulated north of 66 million shares in this name.
http://www.gurufocus.com/StockBuy.php?GuruName=John+Paulson&p=1
I am beginning to see some bullish activity hit the calls and today was a day where the calls were 3X the norm. Here is a small article on this.
Unusual Options Activity Review For Tuesday, December 28, 2010
Bullish Flow
Popular (BPOP) shares gained a nickel to $3.08 and options volume hit 3X the recent average daily after 12,000 calls and 175 puts traded on the San Juan, Puerto Rico bank. February $3 calls were the most actives. 7,680 traded. Most of the action was in smaller lots. The top trade was 638 contracts at 25 cents each and traded on the International Securities Exchange, where sentiment data indicate that a customer bought-to-open a new position. April 3 calls were busy as well, with another 3,380 traded. No news on the stock, but the flow seems to reflect expectations that, after about seven months of mostly sideways trading, BPOP shares are due to rally in the months ahead.
Read more: http://www.theoptionsinsider.com/unusualactivity/?id=6107#ixzz19aPgwA4i
The Options Insider: Your Inside Source For Options Information
I have also made a video on this and here is the link to it.
http://www.screencast.com/t/xd3sqJeP
Trade well
Pete
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