Market Overview

Bulls Bet Arkansas Best Keeps on Truckin' (ABFS)

Shares of Arkansas Best Corporation (NASDAQ: ABFS) are higher on the session by 5.13%, currently trading at $23.36. The stock has been moving largely sideways, in a bottoming pattern, over the past four months, but has been attracting bull attention as of late.

Options traders are betting that the stock can move higher this week as well. The September $22.50 call was purchased 1,500 times, on the offer, for 0.75 a short while ago. Open interest on the strikes is only 992 contracts, indicating that this was new positioning. This trade has already returned 33% in just a few hours.

Call volume is running at 5.33x the daily average.

FYI: ABF offers very, very cheap personal moving as well, especially if you are moving across the country—considerably cheaper than PODS, etc.

Arkansas Best Corporation is a holding company. The company, through its subsidiaries, is engaged in motor carrier freight transportation. The company's principal operations are conducted through ABF Freight System, Inc. and other subsidiaries of the company, which include ABF Freight System, Ltd., ABF Freight System Canada, Ltd., ABF Cartage, Inc., and Land-Marine Cargo, Inc

For more great research like this, as well as how to play it through options…please visit Benzinga’s Options & Volatility Edge and Benzinga’s Cash Generator.

Posted-In: Long Ideas Technicals Options Trading Ideas

 

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