Calls Sold on XL Capital (XL)

Shares of XL Capital LTD XL are lower on the session by 0.43%, currently trading at $16.10. The stock has been trading lower over the past three months and has recently broken down through the 200-day moving average, which is a bearish sign. Options traders are selling calls on XL today. The July $17.00 call was sold 8,000 times, on the offer, for $0.25-0.30 a short while ago; open interest on the strike is 16,415 contracts. This could signal that a long call position has been closed out. Call volume is now running at 7x the daily average. XL Capital Ltd through its subsidiaries, is a global insurance and reinsurance company providing property, casualty and specialty products to industrial, commercial and professional firms, insurance companies and other enterprises on a worldwide basis. The company operates through three segments: Insurance, Reinsurance and Life Operations.