Calls Purchased on WellCare Health Plans (WCG)
August 23, 2010 1:35 PM
Shares of WellCare Health Plans, Inc. (NYSE: WCG) are lower on the session by 0.48%, currently trading at $25.03. The stock has been moving largely lower over the past six months and is trading below the 50-day moving average.
Options traders are betting that the stock regains the 50-day quite soon. The September $30.00 call was purchased 1,900 times, on the offer, a short while ago; open interest on the strike is 1,114 contracts. This signals new positioning on the name.
Call volume is now running at 10.14x the daily average.
WellCare Health Plans, Inc. provides managed care services to government-sponsored health care programs, focused on Medicaid and Medicare, including prescription drug plans and health plans for families, children and the aged, blind and disabled. As of December 31, 2009, the company served approximately 2.3 million members.
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