Calls Purchased on JetBlue Airways (JBLU)

Shares of JetBlue Airways Corp. (JBLU) are lower on the session by 2.37%, currently trading at $5.36. The stock has been trading largely lower over the past two weeks; the stock has hit resistance around the $6.50 level several times. Options traders are buying calls on the name today. The July $6.00 call was purchased 3,500 times, on the offer, for $0.10 earlier in the session. Open interest on the strike is 1,997, suggesting new positioning. This clearly looks like hedge buying for short shares and does not represent bullishness. JetBlue Airways Corporation is a passenger airline that operates primarily on point-to-point routes with its fleet of 110 Airbus A320 aircraft and 41 EMBRAER 190 aircraft. As of December 31, 2009, it served 60 destinations in 20 states, Puerto Rico, and 11 countries in the Caribbean and Latin America.