Calls Active as AMR Corp Rebounds Off 4-Month Low (AMR)

Shares of AMR Corporation AMR are trading higher on the session by 1.305, at $6.22. This comes as shares near the $6.00 historical support level, which the stock has been seeking for the past four months.

While the 20-day, 50-day, and 200-day moving averages are all downward-sloping, options traders are coming into the name today to buy calls, betting that shares can pop.

44,000 Call contracts have traded on the session versus only 13,000 puts. Much of the volume can be found on the April 2011 $7.00 call, where over 28,000 contracts have traded.

The $7.00 and $8.00 strikes are active in nearly every month.

AMR Corporation, incorporated in October 1982, operates in the airline industry. The company's principal subsidiary is American Airlines, Inc. As of December 31, 2009, American provided scheduled jet service to approximately 160 destinations throughout North America, the Caribbean, Latin America, Europe and Asia.