Calls Sold on Charles Schwab (SCHW)

Shares of Charles Schwab Corp. SCHW are higher on the session by 2.12%, currently trading at $14.93. The stock has been running lower and lower over the past two months, off from recent highs near $20.00. Options traders are betting that any rally in the name will be muted. The September $15 call was sold 7,700 times today; open interest on the strike is 7,755 contracts, which signals that a long call position on the name was likely closed out. Call volume is now running at 2.2x the daily average. The Charles Schwab Corporation is a financial holding company. Through its subsidiaries, the company engages in securities brokerage, banking and related financial services. As of December 31, 2009, CSC provided financial services to individuals and institutional clients through two segments: Investor Services and Institutional Services.
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Posted In: Short IdeasTechnicalsOptionsTrading IdeasFinancialsInvestment Banking & Brokerage
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