Mixed Call Action on Hertz Global (HTZ)

Shares of Hertz Global Holdings Inc. HTZ are lower on the session by 4.20%, currently trading $9.35. The stock has been in a strong downtrend over the past five weeks and is nearing a support level around $9.00-9.20. Calls are in favor today, though the sentiment seems to be mixed. The June $15 call was bought 800 times on the offer, but then sold on the nearly 1,700 times throughout the day. In addition to that, the September $10 call has seen mixed buying and selling all throughout the trading day. Volume has exceeded 2,800 contracts; open interest on that strike is 15,551 contracts. Call volume is running at 6.55x the daily average with 51% of all calls traded being purchases on the offer. Traders should wait for a more definite trend and momentum to establish itself before initiating a position. Hertz Global Holdings, Inc. is a general use car rental brand and is engaged in equipment rental businesses in the United States and Canada. The Company and its independent licensees and associates accept reservations for car rentals at approximately 8,100 locations in approximately 145 countries.