Calls Purchased on Avis Budget Group (CAR)

Shares of Avis Budget Group CAR are lower on the session by 0.84%, currently trading at $10.61. The stock has been moving largely lower over the past five months and is trading below both the 50-day and 200-day moving averages. Options traders are betting that the stock can rally from here, though. The January 2011 $12.50 call was purchased 5,000 times, on the offer, a short while ago; open interest on the strike is 1,632 contracts, signaling new positioning on the strike. Call volume is now running at 4.37x the daily average. Avis Budget Group, Inc. provides car and truck rentals and ancillary services to businesses and consumers in the United States and internationally.