Calls Purchased on The Progressive Corporation (PGR)

Shares of The Progressive Corporation PGR are higher on the session by 1.00%, currently trading at $19.66. The stock has been moving largely lower over the past three months and is currently trading below the 50-day and 200-day moving averages. Options traders are buying calls on the name today. Though action has been primarily in small lots, overall call volume is now running at 3.89x the daily average with 83% of all calls traded being purchases on the offer. Traders are buying the $19.00, $20.00, and $21.50 strikes in multiple months. The Progressive Corporation is an insurance holding company. As of December 31, 2009, the company had 53 subsidiaries and one mutual insurance company affiliate. These insurance subsidiaries and affiliate provide personal and commercial automobile insurance and other specialty property-casualty insurance and related services.