Calls Purchased on ConAgra Foods (CAG)

Shares of ConAgra Foods Inc. CAG are lower on the session by 2.71%, currently trading at $21.56. The stock has been moving largely lower over the past six months, off from recent highs near $26.00. Options traders are buying calls on the name today, betting that the stock may be at a short-term bottom. The August $22.50 call was purchased 3,500 times, on the offer, a short while ago; open interest on the strike is only 803 contracts. This signals new positioning. Call volume is now running at 8.39x the daily average. ConAgra Foods, Inc. is a food company, supplying frozen potato and sweet potato products, as well as other vegetable, spice, and grain products to a variety of restaurants, foodservice operators and commercial customers. The company operates in two segments: Consumer Foods and Commercial Foods.