Short Call Position Rolled on Health Net (HNT)

Shares of Health Net Inc. HNT are higher on the session by 0.91%, currently trading at $24.45. The stock has been trading largely higher over the past six to nine months, though has encountered resistance around $27.50. Today, the July/October $20 calendar spread traded 1,738 times for $0.55. The July contracts were bought to close (open interest of 1,753 contracts) and the October contracts were sold to open (open interest of 2 contracts). The trade was executed for a net credit. Call volume is now running at 11x the daily average. Health Net, Inc., is an integrated managed care organization that delivers managed health care services through health plans and government-sponsored managed care plans. The company operates and conducts its businesses through its subsidiaries.