Starwood Hotels & Resorts Worldwide drew short-term bullish option trades yesterda after announcing global expansion plans.
More than 13,000 March 65 calls traded in a strong buying pattern yesterday for prices ranging from $0.07 to $0.34, according to OptionMonster's real-time tracking systems. The volume was almost 10 times higher than the strike's open interest before the session began, indicating that these are new purchases.
Starwood shares rose 0.61 percent to $62.94 yesterday, not far from a two-year high of $63.45 reached on Feb. 15. The stock has faced resistance around the $64 level going back to August 2007.