Options Brief: Procter & Gamble (PG)

PG – The Procter & Gamble Company – Options investors are augmenting bullish stances on the global provider of branded consumer packaged goods today with shares of the underlying stock inching 0.25% higher to stand at $61.91 by 12:25 pm (ET). It looks like bullish players expecting PG’s shares to rally significantly by expiration purchased some 18,100 calls at the August $65 strike for an average premium of $0.22 apiece back on Thursday July 8, 2010. Today, options optimists continued this trend by picking up approximately 16,500 calls at the August $65 strike for an average premium of $0.25 per contract. Investors buying the August $65 strike calls today are poised to profit should PG’s shares surge 5.40%, surpass the current 52-week high on the stock at $64.58, and finally trade above the average breakeven price of $65.25 by expiration day next month. The increase in investor demand for call options on the stock lifted Proctor & Gamble’s overall reading of options implied volatility 4.1% to 18.33% as of 12:30 pm (ET).