Stacy Gilbert Sees Bullish Options Activity In EMC

On CNBC's Options Action, Stacy Gilbert spoke about bullish options activity in EMC Corporation (NYSE: EMC). She said that the call options volume was two times higher than the average daily call volume as roughly 25,000 contracts were traded.

The focus was on the shorter dated options expiring this week and next week. She noticed that there was a trade of 10,000 contracts of the August 28, 15 strike calls when the stock was trading slightly below $25. The trader paid $0.12 for them, which sets breakeven at $25.12.

Gilbert explained that there are a lot of rumors about EMC and she sees some bullish positioning.