Upside Purchased on Avis Budget Group (CAR)

Shares of Avis Budget Group CAR are lower on the session by 1.42%, currently trading at $15.97. The stock has been moving largely higher over the past six months and is currently trading above the 50-day and 200-day moving averages. Options traders are buying calls on the name today. A short while ago the March 2011 $16.00 call was purchased 4,1 0 times, on the offer, on open interest of 346 contracts. Overall call volume is now running at 3.69x the daily average with 90% of all calls traded being purchases on the offer. Avis Budget Group, Inc. provides car and truck rentals and ancillary services to businesses and consumers in the United States and internationally. The company operates two brands in the global vehicle rental industry, through Avis and Budget.