Calls Purchased on Corinthian Colleges (COCO)

Shares of Corinthian Colleges Inc. COCO are lower on the session by 6.13%, currently trading at $7.05. The stock has been moving largely lower over the past five months, off from highs near $19.25. Options traders are betting that the stock may be near a short-term bottom. The August $7.50 call was purchased 8,000 times, on the offer, a short while ago; open interest on the strike is 12,486 contracts. Call volume is now running at 2.57x the daily average. Corinthian Colleges, Inc. is a post-secondary education company in the United States and Canada. As of June 30, 2009, the company had a student enrolment of 86,088, and operated 89 schools in 24 states and 17 schools in the province of Ontario, Canada.