Calls Purchased on Eagle Bulk Shipping

Shares of Eagle Bulk Shipping (NASDAQ: EGLE) are higher on the session by 0.54%, currently trading at $1.87. The stock has been moving largely lower over the past three 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 September 2011 $3.00 call traded 900 times on open interest of 3,742 contracts. Overall call volume is now running at 3.71x the daily average with 96% of all calls traded being purchases on the offer.

Eagle Bulk Shipping Inc. is engaged primarily in the ocean transportation of a range of major and minor bulk cargoes, including iron ore, coal, grain, cement and fertilizer, along worldwide shipping routes.