Calls Purchased on Rite Aid Corp. (RAD)

Shares of Rite Aid Corp. RAD are lower on the session by 2.17%, currently trading at $0.931. The stock has been moving largely lower over the past four months, off from recent highs near $1.74. Options traders are buying calls on the name today. The January 2011 $2.50 call was purchased 1,330 times, on the offer, earlier in the session. Open interest on the strike is 2,746 contracts. Call volume is currently running at 10.69x the daily average. Rite Aid Corporation is a retail drugstore chain in the United States. The company operates its drugstores in 31 states across the country and in the District of Columbia. As of February 27, 2010, it operated 4,780 stores. In its stores, the company sells prescription drugs and an assortment of other merchandise, which it calls front-end products.