Calls Purchased on Jackson Hewitt Tax Service (JTX)

Shares of Jackson Hewitt Tax Service JTX are higher on the session by 15.36%, currently trading at $1.615. The stock has been moving largely higher over the past two months and is currently trading above the 50-day and 200-day moving averages. Options traders are buying calls on the name today. A short while ago the January 2011 $2.00 call was purchased 1,000 times, on the offer, on open interest of only 880 contracts. This signals new positioning on the name. Overall call volume is now running at 3.50x the daily average with 85% of all calls traded being purchases on the offer. Jackson Hewitt Tax Service Inc. provides computerized preparation of federal, state and local individual income tax returns in the United States through a nationwide network of franchised and Company-owned offices operating under the brand name Jackson Hewitt Tax Service.