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December 19, 2016  Mon 11:58 AM CT

Charter Communications has call volume today, but it isn't necessarily bullish.

OptionMonster's tracking programs detected the sale of 5,200 January 310 calls for $3.30. Volume was more than 28 times open interest at the strike, which indicates new money was put to work.

Short calls generate income and fix the price where a stock must be sold. (See our Education section.) The strategy is usually done in conjunction with long shares, reflecting a belief upside will be limited through expiration.

CHTR rose 0.73 percent to $290.54 in afternoon trading and is up 10 percent in the last month. The last quarterly report on Nov. 3 was mixed. The next set of numbers are estimated for pre-market hours on Feb. 9.

Overall option volume was 4 times greater than average.

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