Capital One Financial Corp. (NYSE:COF) – Trading traffic in weekly call options on Capital One Financial Corp. (NYSE:COF) suggests one or more traders are gearing up for shares in the name to extend gains in the near term. Shares in Capital One Financial Corp. (NYSE:COF) are up more than 6.0% in early afternoon trading to stand at $56.10 after the company reported first-quarter earnings that exceeded analyst expectations following the close of trading on Thursday. Upside call buying in the weeklys looks for shares to continue higher, with the April 26 ’13 $55 strike calls changing hands 1,300 times versus open interest of 48 contracts. It looks like most of the $55 calls were purchased for an average premium of $0.84 each in the early going this morning. Traders long the calls at $0.84 are already seeing the value of the contracts move in their favor, with the last traded price on the contracts up at $1.40 as of 12:25 p.m. ET. Profits are available at expiration if shares in Capital One Financial Corp. (NYSE:COF) settle above the average breakeven price of $55.84. Meanwhile, traders with perhaps a less rosy outlook on Capital One Financial Corp. (NYSE:COF) shares during the next five trading sessions appear to have purchased around 420 of the April 26 ’13 $52.5 strike put options at a premium of $0.15 each. These contracts make money at expiration if the price of the underlying pares post-earning gains to trade below an effective breakeven price of $52.35.