Options Traders Bet JetBlue Holds Its Range (JBLU)
Shares of JetBlue Airways Corp. (NASDAQ: JBLU) are lower on the session by 0.18%, currently trading at $5.49. The stock has been moving largely in a range for the past six months, with $5.50 support and $6.50 resistance.
Options traders are betting that the range holds and are buying calls on the name today. The September $6.00 call was purchased 2,100 times, on the offer, a short while ago; open interest on the strike is 4,657 contracts.
Call Volume is now running at 5.11x the daily average with 93% of all calls traded being purchases on the offer.
JetBlue Airways Corporation is a passenger airline that operates primarily on point-to-point routes with its fleet of 110 Airbus A320 aircraft and 41 EMBRAER 190 aircraft. As of December 31, 2009, it served 60 destinations in 20 states, Puerto Rico, and 11 countries in the Caribbean and Latin America.
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