Shares of Conagra Foods Inc. CAG are higher on the session by 0.69%, currently trading $24.65. The stock has been consolidating sideways for the past three months, though is now trading below the 50-day moving average, which is bearish.
One trader is buying puts on the name, though. The June $25 call was purchased over 1,200 times today; open interest on the strike is 8,526 contracts.
Call volume is now running at 2.32x the daily average.
ConAgra Foods, Inc. is food company supplying potato, other vegetable, spice and grain products to a variety of restaurants, foodservice operators and commercial customers.
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