Bulls Screening Regal Entertainment Group (RGC)

Shares of Regal Entertainment Group (NYSE: RGC) are higher on the session by 1.29%, currently trading at $13.39. The stock has been moving largely lower over the past six months, off of a recent high near $18.30. Shares have recently regained the 50-day moving average, which is a short-term bullish sign.

Options traders are buying upside on the name today. A short while ago the January 2011 $15.00 call was purchased 1,200 times, on the offer, on open interest of only 420 contracts.

Overall call volume is now running at 13.15x the daily average, 78% on the offer.

Regal Entertainment Group is the parent company of Regal Entertainment Holdings, Inc., which is the parent company of Regal Cinemas Corporation and its subsidiaries. The company operates theatre circuit in the United States, consisting of 6,768 screens in 548 theatres in 39 states and the District of Columbia as of December 31, 2009, with over 244 million annual attendees for the year ended December 31, 2009. Regal operates multi-screen theatres and has an average of 12.4 screens per location.

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