First Data (FDC), the global payment infrastructure vendor is moving to new 2 year highs (along with a lot of other names) as it crosses the $20 level. Significant option activity has taken place today which is unusual for this name. Over 3,000 July 20 calls have traded around the $.60 level, over 5,000 Oct 20 calls have traded around the $1.50 level and over 11.000 Jan /19 21 calls have traded around the $1.65 zone. Put activity has been almost non existent. This name still has a modest valuation with a below market PE multiple of around 14X. It doesn’t garner near the attention of the more visible consumer payment vendors like PayPal and Square, which have been on fire for quite some time and sport extremely lofty valuations by comparison. FDC is a significant holding for a number of hedge funds, most prominently Omega Adviosrs and Glenview Capital as of their most recent filings. Might be a bit overextended short term, but worth keeping an eye on if it pulls back a bit.