Option activity in Blackstone shows up frequently on our scanners, and the bulls returned to the name yesterday.
Early buyers paid $0.63 for the August 22 calls, according to OptionMonster's tracking programs. They came back repeatedly through the day, driving premiums as high as $0.75. Almost 6,000 contracts traded against previous positioning of just 1,155, clearly indicating new activity.
Calls lock in the price where shares can be purchased in the private-equity firm, letting investors cheaply position for a rally. They can also generate some nice leverage if the stock runs higher.