Loews (L) setting up well for a bull flag breakout and yesterday traded 700 May $50 calls for around $4, the largest line of the day which ran about 10X average. Loews is a name we haven’t looked at in a while and worth revisiting with shares near 15-year highs. The $13.82B company is a conglomerate focused on a number of areas with majority-stakes in Diamond Offshore, Boardwalk Pipeline, Loews Hotels, and Altium Packaging. Their biggest business is in P&C insurance through CNA Financial. The company is a 125-year-old provider of insurance solutions to businesses with specialties in professional liability and both Surety and Warranty.  Loews has been investing in growing their underwriting profits and sees 2021 as a big year as they put COVID-related losses behind them. They saw acceleration in P&C rates and higher overall premium growth in 2020. The industry itself is expected to hit its stride in 201 with WaterStreet noting that positive trends early in the year and Deloitte seeing 3% growth for the market, mostly due to International. Analysts have an average target for shares of $75, albeit limited coverage. On the chart, shares setting up in a small bull flag just below a notable spot from early 2020 at $55 and the rising 21-day MA just below is support.