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NBG & A Potential Call Options Play

Now that NBG has been battered like there's not tomorrow by the markets. It looks like a very appetitite pleasing buy at it's price point of around $2.60 (market close 4/27/2010)

The speculative nature of this trade in my opinion is figuring out what month it would bounce back to $5.00 and purchasing that month's call options.

It will absolutely bounce back, it's just a matter of when...

My move on this would be August $5.00 calls

August $5.00 calls           November $5.00 calls
bid $.0.10                        bid  $0.30
ask $0.25                        ask $0.40

This can be a very speculative suggestion. Warning!

Disclosure: Short NBG, Long NBG August $5.00 calls