Calls Purchased on GigaMedia (GIGM)
Shares of GigaMedia Ltd (NASDAQ: GIGM) are higher on the session by 5.91%, currently trading at $2.15. The stock has been sliding lower for the past three years, with little to no rallies.
Options traders are picking up some calls today; the August $2.00 call was purchased 1,200 times on open interest of 1,191 contracts. The July $2.50 call was sold 582 times, for $0.05, today as well. It does not appear that the trades were linked. Open interest on that strike is 27,001 contracts.
Call volume is now running at 2.05x the daily average.
GigaMedia Limited is a provider of gaming software and services to the online gaming industry, particularly the online poker and casino markets, and an operator of online games. GigaMedia operates its gaming software and services through Cambridge Entertainment Software Limited (CESL), its wholly owned subsidiary.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.