Notable Call Options Activity on Exelixis

Shares of Exelixis EXEL are higher on the session by 9.70%, trading at $5.09. The stock has been moving largely higher over the past six weeks and is currently trading above the 50-day moving average. Options traders are focusing on calls today. The strike seeing the heaviest action is the January 2012 $5.00 call, which has traded 2,300 times on open interest of 0 contracts. The majority of this action stems from a 2,000 contract block, purchased for $0.30. Call volume is outpacing put volume by 38 to 1. Exelixis, Inc., a biotechnology company, develops small molecule therapies for the treatment of cancer. It focuses on developing Cabozantinib, an inhibitor of tumor growth, metastasis, and angiogenesis that target MET, VEGFR2, and RET, which are key kinases involved in the development and progression of various cancers.