Pfizer Call Purchased

Pfizer (NYSE: PFE) is seeing some call buying this morning with the March $19 calls trading over 11,000 times so far. Large blocks of calls were bought on the offer; this action is below open interest, however, so it is unclear whether this is new positioning or closing transactions. Neither here nor there, this still gives a bullish tone to the stock.

Pfizer is currently trading $17.80, down 0.22% on the day. The stock has recently traded down through the 50-day moving average and has pushed out of the lower Bollinger Band. The stock may be due for a very short term bounce, though I would not get bullish on the name until it drifts to the $16.80-17.00 level, where the 200-day moving average is.