Calls Sold on Molson Coors Brewing (TAP)

Shares of Molson Coors Brewing Co. TAP are lower on the session by 1.34%, currently trading at $44.85. The stock has been moving largely higher over the past six months and is currently trading in a technical uptrend. Options traders are selling calls on the name, though, betting that the rally may be stalled. The August $45.00 call was sold, on the bid, 2,200 times earlier in the session; open interest on the strike is 1,165 contract. This signals that a new, short call position was opened, though, more than likely, represents hedge selling on long shares. Call volume is now running at 8.43x the daily average. Molson Coors Brewing Company is a holding company. Its operating subsidiaries include Coors Brewing Company, operating in the United States prior to the formation of MillerCoors LLC; Molson Coors Brewing Company Limited, operating in the United Kingdom; Molson Coors Canada, operating in Canada, and other corporate entities.