Investing guru Gendell Jeffrey making some big bets

Gendell Jeffrey Top Holdings (June and Sept Comparison). He is bullish in banks that he is buying call options.

AK STEEL HOLDING CORP (reduced)
June: 9,417,800
Sept: 6,990,350 ($307 million)

AMR CORP-DEL (increased)
June: 22,848,347
Sept: 24,117,447 ($537 million)

BANK OF AMERICA CORP (call options, big bet, reduced)
June: 19,538,100
Sept: 17,868,100 ($898 million)

CITIGROUP INC (call options, big bet, reduced)
June: 12,346,100
Sept: 12,342,000 ($576 million)

CLEVELAND CLIFFS INC (reduced)
June: 2,587,020
Sept: 2,373,820 ($208 million)

FOSTER WHEELER LTD (reduced)
June: 3,624,558
Sept: 3,070,240 ($403 million)

HEXCEL CORP NEW (same)
June: 9,347,362
Sept: 9,347,362 ($212 million)

KBR INC (same)
June: 18,964,512
Sept: 18,964,512 ($735 million)

MCDERMOTT INTL INC (increased)
June: 3,195,483
Sept: 4,677,764 ($252 million)

MERRILL LYNCH & CO INC (increased)
June: 1,232,063
Sept: 2,885,263 ($205 million)

QUANTA SERVICES INC (increased)
June: 6,384,800
Sept: 10,453,831 ($276 million)

SHAW GROUP INC (same)
June: 9,023,100
Sept: 9,023,100 ($524 million)

TRINITY INDUSTRIES INC (increased)
June: 10,194,235
Sept: 10,419,235 ($391 million)

WACHOVIA CORP (call option, big bet, increased)
June: 6,059,900
Sept: 6,270,700 ($314 million)

WASHINGTON GROUP INTL INC (reduced)
June: 2,659,412
Sept: 2,516,922 ($221 million)

UNITED STATES STL CORP NEW (reduced)
June: 5,710,797
Sept: 4,715,600 ($499 million)