Calls Purchased on Georgia Gulf Corp. (GGC)

Shares of Georgia Gulf Corp.

are higher on the session by 8.74%, currently trading at $16.80. The stock has been drifting lower over the past two months, but today’s rally has the stock nearing the 50-day moving average from the downside. Options traders are picking up calls on the name today. The August $17.50 strike was purchased 1,010 times, on the offer, for $1.50 a short while ago. Open interest on the strike is only 483 contracts, signaling new, bullish positioning. Call volume is running at 18.25x the daily average. Georgia Gulf Corporation is a manufacturer and international marketer of two integrated chemical product lines, chlorovinyls and aromatics. The Company's primary chlorovinyls products are chlorine, caustic soda, vinyl chloride monomer (VCM), vinyl resins and vinyl compounds, and its aromatics products are cumene, phenol and acetone.