Bulls Bet That Costco Wholesale Runs Higher (COST)

Shares of Costco Wholesale Corporation COST are higher on the session by 0.85%, currently trading at $56.67. The stock has been moving largely lower over the past six months, though has been consolidating as of late and has recently pushed above the 50-day moving average. Options traders are buying calls on the name today. The October $57.50 call was purchased 3,500 times, on the offer, a short while ago; open interest on the strike is 2,756 contracts. This signals new positioning on the name. Call volume is now running at 2.23x the daily average. Costco Wholesale Corporation operates membership warehouses that offer its members low prices on a limited selection of branded and selected private-label products in a range of merchandise categories. It buys the majority of its merchandise directly from manufacturers and route it to a cross-docking consolidation point or directly to its warehouses. For more great research like this, as well as how to play it through options…please visit Benzinga’s Options & Volatility Edge and Benzinga’s Cash Generator.