Bank of Montreal options traders are showing heavy bullish positioning through an unusual call-buying spree, with a large block purchase suggesting conviction in near-term upside.

The Trade: Big Money Targeting December Calls

Options traders are showing unusually strong bullish interest in Bank of Montreal (BMO). According to the Charles Schwab Daily Options Market Update, the call-to-put ratio sits at roughly 14-to-1—meaning for every put contract sold for downside protection, traders are buying 14 calls betting on gains. That's well above the typical 1-to-1 baseline you'd see in a balanced market.

The specific target: the December 18th $190.00 call. With BMO trading around $181.15, that strike requires a $9 move upward—or about 5%—for the option to finish in-the-money. That's meaningful but not extreme for a three-month window.

The Block: A 1,500-Contract Bet

What makes this noteworthy is execution. A single block of 1,500 contracts traded at $44.65 per contract. That's not retail dabbling; institutional-sized positioning typically shows up this way.

What This Positioning Implies

Heavy call buying doesn't prove a stock will rise; it shows where traders are willing to put capital. The 14-to-1 calls-to-puts skew and the specific block purchase suggest conviction in upside into mid-December. Traders are positioning for BMO to be above $190 in roughly 90 days.

This kind of positioning is worth monitoring—especially if you own the stock or follow it closely.