Shares of BJ’s Wholesale Club BJ are lower on the session by 0.85%, currently trading at $43.13. The stock has been trading largely higher over the past six months and recently spiked higher on takeover rumors.
Options traders are buying calls on the name today. The September $50.00 call was purchased 2,300 times, on or near the offer, on open interest of just 14 contracts. This trade represents a trader voicing the opinion that someone may come in with a bid for the company 16% higher than the current price.
Call volume is now running at 6x the daily average.
BJ's Wholesale Club, Inc. (BJ's) is a warehouse club operator in the eastern United States. As of January 30, 2010, BJ's operated 187 warehouse clubs in 15 states. As of January 30, 2010, the company operated 167 full-sized warehouse clubs that averaged approximately 113,000 square feet and 20 smaller format warehouse clubs that averaged approximately 72,000 square feet.
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