Calls Purchased on Elan Corporation

Shares of Elan Corporation

are higher on the session by 3.72%, currently trading at $9.48. The stock has been moving largely higher over the past six months and is currently trading above the 50-day and 200-day moving averages. Options traders are buying calls on the name today. A short while ago the July 2011 $10.00 call was purchased 4,500 times, on the offer, on open interest of 3,140 contracts. Overall call volume is now running at 4.68x the daily average with 68% of all calls traded being purchases on the offer. Elan Corporation, plc is a neuroscience-based biotechnology company. Elan is focused on discovering and developing advanced therapies in neurodegenerative and autoimmune diseases, and in realizing the potential of its scientific discoveries and drug delivery technologies.