Calls Purchased on Emulex Corporation

Shares of Emulex Corporation ELX are higher on the session by 0.23%, currently trading at $8.80. The stock has been moving largely lower over the past five months and is currently trading below the 50-day moving average. Options traders are buying calls on the name today. A short while ago the January 2012 $9.00 call traded 4,700 times on open interest of 587 contracts. Overall call volume is now running at 4.46x the daily average with 70% of all calls traded being purchases on the offer. Emulex Corporation is a provider of a range of network convergence solutions that connect servers, storage, and networks within the data center.