What’s up with GFI Group?

Stock and stock option volume for GFI Group (GFIG) was significantly up last Friday and the stock price was up over 5%. No significant news related to GFI Group was published on Friday either. GFI Group operates as an inter-dealer broker for over-the-counter derivative products. The company provides software related to trading and provides brokerage services for financial related derivatives, credit, bond, foreign exchange, exotic and interest-rate swaps.

GFI Group was named the number one credit derivative broker in Risk Magazine this year. GFI Group received this honor for its capability, innovation, service, liquidity and price. So why all of the interest in GFI Group? It’s no secret that there’s financial regulatory reform coming in the near future, maybe GFI Group stands to benefit, but we’re several months away from financial regulatory reform. Or maybe a company is about to merge or purchase GFI Group?

There was as a lot of volume for GFIG’s October 7.5 call options on Friday, relatively speaking and GFIG’s stock price has performed very nicely over the last seven months with an increase of over 200% from its low in March.

A covered call investing position for GFIG for October looks attractive with a % if unchanged potential return of 3.5% and the time frame for realizing the return is only 12 days. The call options to sell for this covered call investing position is GQGJI (OCT 7.50).

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To enter the covered calls position an option investor would purchase the stocks in multiples of 100 shares and sell one call option for each 100 shares of stock purchased.

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[tags] trading, brokerage, derivatives, credit, bond, foreign exchange, exotic, interest-rate swaps, credit derivative broker, Risk Magazine, financial regulatory reform, GFIG, GFI Group Inc. [/tags]