Bulls Target Chiquita (CQB)

Shares of Chiquita Brands International Inc. CQB are trading lower on the session by 3.82% to $12.58, though options traders are betting on further upside in the name. The August $20 call was purchased over 6,100 times today for $0.30-0.35; open interest on the strike is over 11,000 contracts. The stock is in full-on bear territory as technicals are concerned. The stock is trading well below the 50-day and 200-day moving averages, and has broken through horizontal support at $14. It seems likely that a move towards $10 is in the cards before significant support is found.