Calls Sold in PMC-Sierra

Shares of PMC-Sierra Inc. (NASDAQ: PMCS) are trading slightly lower on the session to $7.89 after the company reported earnings that beat on the EPS and revenue. I am seeing traders sell vol in the name today; namely calls. The May $7.50 call was sold over 6,000 times and the August $7.50 call was sold over 1,200 times.

Total call volume in PMC-Sierra is running at 3.25x the daily average with only 3% of calls traded being purchases on the offer.