Calls Sold on AMR Corp. (AMR)

Shares of AMR Corporation AMR are lower on the session by 1.86%, currently trading at $6.33. The stock is giving up some of yesterday's M&A gains and remains in a longer-term downtrend. Options traders are selling upside calls on the name for a second day in a row. A short while ago the November $7.00 call was sold, on the bid, in two large blocks (12,529 and 12,959 contracts) for $0.32 and $0.30. This is the second day in a row we are seeing this strike sold. Whether it is tied to stock or not (likely) still voices the fact that this airline has limited upside. AMR Corporation, incorporated in October 1982, operates in the airline industry. The company's principal subsidiary is American Airlines, Inc. As of December 31, 2009, American provided scheduled jet service to approximately 160 destinations throughout North America, the Caribbean, Latin America, Europe and Asia. For more great research like this, as well as how to play it through options…please visit Benzinga's Options & Volatility Edge and Benzinga's Cash Generator.