Calls Purchased on Southwest Airlines Co. (LUV)

Shares of Southwest Airlines Co. LUV are higher on the session by 1.50%, currently trading at $12.18. The stock has been moving largely lower over the past six months and is currently trading below the 200-day moving average. Options traders are buying calls on the name today. A short while ago the May 2011 $12.00 call was purchased 8,000 times, on the offer, on open interest of 10,175 contracts. Overall call volume is now running at 2.29x the daily average with 96% of all calls traded being purchases on the offer. Southwest Airlines Co. is a passenger airline that provides scheduled air transportation in the United States. As of December 31, 2010, the company had 548 Boeing 737 aircraft serving 69 cities in 35 states throughout the United States.