Traders Bet On Upside in CVS

Shares of CVS Caremark Corp. CVS are trading slightly lower on the session, currently off 0.74% to $36.23. The stock is now hovering around the 50-day moving average, though options traders are betting that the company will move higher off of that support level. The January 2011 $35 call was purchased on the offer 6,518 times for $4.20 and the January 2011 $40 call was purchased 10,849 times for $1.94. Volume on neither line exceeded open interest, but a bullish case exists nonetheless. CVS Caremark is a health care provider in the United States.