Calls Purchased on Corinthian Colleges

Shares of Corinthian Colleges COCO are higher on the session by 1.55%, currently trading at $3.92. The stock has been moving largely lower over the past four months and is currently trading below the 200-day moving average. Options traders are buying calls on the name today. A short while ago the June 2011 $4.00 call was purchased 5,000 times, on the offer, on open interest of 2,545 contracts. Overall call volume is now running at 6.11x the daily average with 83% of all calls traded being purchases on the offer. Corinthian Colleges, Inc. is a post-secondary education company in the United States and Canada, serving the segment of the population seeking to acquire career-oriented education. As of June 30, 2010, the company had a student enrollment of 110,580 and operated 101 schools in 25 states, and 17 schools in the province of Ontario, Canada.