Bulls Betting on Penn National Gaming (PENN)
October 04, 2010 10:30 AM
Shares of Penn National Gaming, Inc. (NASDAQ: PENN) are higher on the session by 2.59%, currently trading at $30.86. The stock has been moving largely higher over the past three months, off of a recent low near $22.35. Shares are now nearing resistance.
Options traders are buying upside on PENN today. A short while ago the November $30.00 call was purchased 1,800 times, on the offer, on open interest of just 165 contracts. This signals new positioning on the name.
Call volume is running at 4.67x the daily average, 98% on the offer.
Penn National Gaming, Inc. is a diversified, multi-jurisdictional owner and manager of gaming and pari-mutuel properties. The company owns or manages 19 facilities in 15 jurisdictions, including Colorado, Florida, Illinois, Indiana, Iowa, Louisiana, Maine, Mississippi, Missouri, New Jersey, New Mexico, Ohio, Pennsylvania, West Virginia, and Ontario.
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