Calls Bought on Wal-Mart (WMT)

Shares of Wal-Mart Stores WMT are lower on the session by 1.60%, currently trading $50.89. The stock has fallen sharply over the past month, which is surprising given that investors are reaching for more large-cap, defensive names as of late. The stock did bounce off of the $50 handle, which is support. Call buyers are targeting the name today with the June $47.50 call purchased on the offer 2,000 times for $4.10-4.20. The calls were bought on the offer even as the stock drifted lower. Open interest on the strike is 2,865 contracts. Wal-Mart Stores, Inc. operates retail stores. The Company operates in three business segments: Wal-mart U.S., International and Sam's Club. During the fiscal year ended January 31, 2010 (fiscal 2010), The Wal-mart U.S. segment accounted for 63.8% of its net sales, and operated retail stores in different formats in the United States, as well as Wal-mart's online retail operations, walmart.com