Lehman Bros - Cap. Trust IV - Pref''d Series "L" (LEHLQ)

[stripus]

Any thoughts on this I just received:
Najarian on BCS: We normally focus on call buying or put buying, but the put selling is truly noteworthy in Barclays Bank, with major activity in the March 18, March 19, March 17 and March 20 strikes.
The shares are climbing as the transactions cross and are now up 0.86 percent to $16.45 in morning trading. Overall options volume in BCS is 22 times greater than average, with short puts accounting for most of the activity.
It's interesting that these trades are all in the money, and we're not seeing anything that suggests these trades are any kind of conversion. That means that while it's an unusual way to get long, it appears these are directional bets on BCS moving higher. The trades also come as the stock holds long-term support at $16, which adds to the bullish story.