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Actionable news in BX: THE BLACKSTONE GROUP L.P,

Unusual Options Activity In Blackstone's Stock

A quick scan of unusual options activity over the last two days identified an interesting trade in LEAPS:

As you can see in the table above, an investor(s) purchased over six thousand Blackstone’s (BX) call options with a strike price of $28 expiring in January 2018. The position is quite large both in absolute (an equivalent of 600,100 shares, or a $1.89M option position) and relative terms:

(Source: TD Waterhouse)

Notice the high open interest in $28 and $30 call options. Given the fact that the stock closed at $26.84 on Friday, July 29th, both strikes are out-of-money. My calculations show that the $28 calls...


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