Today traders are buying at the money and slightly out of the money calls in General Electric (NYSE: GE), pricing in a move over the 18 level in the near future.
The March 17.50 calls saw nearly 50,000 contracts traded by noon. The April 18 and 19 calls saw a volume spike as well. Almost 100% of the open interest in the (NYSE: GE)April 18 calls have traded by 1:30 est.
(GE)announced today it was expecting profits to rise in 2011 along with a dividend increase.