Market News

August 8, 2013  Thu 3:16 AM CT

Broadridge Financial attracted bullish option activity yesterday ahead of its earnings report this morning.

optionMONSTER's Heat Seeker system detected bullish trading in the September 30 calls, where more 1,341 contracts changed hands above previous open interest as premiums rose from $0.35 to $0.55. The calls made up almost all of the day's option volume in BR, which saw only 4 puts trade.

These long calls, which lock in the price where traders can buy shares, are looking for Broadbridge to rally above $30 by mid-September. But if BR remains below that level, the options will expire worthless unless they are sold before then. (See our Education section)

BR fell 0.72 percent to $28.98 yesterday, not far from an all-time high of $29.88 reached a week ago. The financial-technology services company, which rarely sees unusual option trading, is scheduled to announce quarterly results today before the market opens.
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