Calls Sold on Coinstar (CSTR)

Shares of Coinstar Inc. CSTR are higher on the session by 1.32%, currently trading at $49.80. The stock has been moving largely sideways for the past three months, hovering around the 50-day moving average. Options traders are selling some calls on the name today. The August $47 call was sold 1,700 times on open interest of 2,288 contracts and the August $48.00 call was sold 2,900 times on open interest of 946 contracts. This appears to be some options arbitrage, where traders buy stock an sell the calls to lock in gains into options expiration. What we can decipher from this is that the stock is expected to remain above $48.00 all this week. Coinstar, Inc. is a provider of automated retail solutions. Its business segments include Coin services, DVD services, Money Transfer services and E-payment services. The company's core offerings in automated retail include its Coin and DVD businesses. Its Coin services consist of self-service coin counting kiosks, where consumers can convert their coin to cash, a gift card or an e-certificate, among other options.