Calls Purchased on SLM Corp. (SLM)

Shares of SLM Corp. SLM are lower on the session by 1.87%, currently trading at $12.07. The stock has been moving in a bottoming pattern for the past three months and is now trading above the 50-day moving average. Options traders are buying calls on the name today. The August $12.00 call was purchased 2,000 times, on the offer, earlier in the session; open interest on the strike is 6,587 contracts. Call volume is now running at 2.5x the daily average. SLM Corporation, known as Sallie Mae, is engaged in the business of originating, servicing and collecting student loans and/or their parents to finance the cost of their education. The company provides funding, delivery and servicing support for education loans in the United States through the participation in the Federal Family Education Loan Program, as a servicer of loans for the Department of Education, and through its non-federally guaranteed Private Education Loan programs.