Traders look for continued strength from Morgan Stanley
Option traders are betting on some continued gains from Morgan Stanley (MS) after the company reported earnings this morning. In particular, the Dec. 1-expiring 51 call has traded 3,831 contracts today, against open interest of five contracts. All of today’s trades have been priced high in the bid/ask spread, indicating these new contracts were initiated from the buy side.
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About Morgan Stanley
Morgan Stanley is a global investment bank whose history, through its legacy firms, can be traced back to 1924. The company has institutional securities, wealth management, and asset management segments, as well as more than 60,000 employees. Approximately half of the company's net revenue is from its institutional securities business, with the other half coming from wealth and asset management. The company derives about 30% of its total revenue outside the Americas.