Schaeffer's Option Blog: Call Buyers Target Kellogg Co. June 35 Strike

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Wed May 27, 2009 8:01pm EDT 

CINCINNATI--(Business Wire)--
Option activity has been heavy on Kellogg Co. (NYSE: K) this afternoon. So far,
more than 23,000 contracts have traded, outpacing the stock's average daily
volume of 1,409 contracts by nearly 17 to one, according to data from
WhatsTrading.com. Additionally, calls represent more than 97% of this volume. 

Nearly all of this call activity was centered at K's June 35 strike, as more
than 20,000 contracts traded. Furthermore, a majority of this volume should
translate to fresh open interest, with only 1,081 contracts currently open at
this front-month strike. 

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Schaeffer's Investment Research
Joseph Hargett, 513-589-3800
jhargett@sir-inc.com



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