Calls Purchased on Patterson Companies (PDCO)

Shares of Patterson Companies Inc. PDCO are lower on the session by 0.89%, currently trading at $26.63. The stock has been moving largely lower over the past four months, off from recent highs near $33.00. The stock is now trading below the 50-day moving average. Options traders are buying calls on the name today, perhaps betting that the stock is bottomed out over the short-term. The September $27.00 call was purchased 1,000 times, on the offer, a short while ago; open interest on the strike is 1,160 contracts. Call volume is now running at 20.50x the daily average. Patterson Companies, Inc. is a distributor serving three markets: North American dental supply, U.S. companion-pet (dogs, cats and other common household pets) and equine veterinary supply, and the global rehabilitation and assistive products supply market. The company operates in three segments: dental supply, veterinary supply and rehabilitation supply. For more great research like this, as well as how to play it through options…please visit Benzinga’s Options & Volatility Edge and Benzinga’s Cash Generator.