Calls Purchased on PMC-Sierra (PMCS)

Shares of PMC-Sierra Inc. (NASDAQ: PMCS) are lower on the session by 0.67%, currently trading at $7.46. The stock has been trading largely lower over the past six months and is now in a technical downtrend.

Options traders are buying calls on the name today. The November $7.50 call was purchased 6,500 times, on or near the offer, on open interest of only 198 contracts. This signals new, bullish positioning on the strike.

Call volume is now running at over 15x the daily average.

PMC-Sierra, Inc. engages in the design, development, marketing, and support of semiconductor solutions for the enterprise infrastructure and communications infrastructure markets. Its products include controllers based on Fibre Channel, Serial Attached SCSI, and Serial ATA that enable the development of external and server-attached storage systems; framers and mappers, which convert the data into a format for transmission in the network before the data is sent to the next destination; line interface units that transmit and receive signals over a physical medium, such as wire, cable, or fiber; and microprocessor-based system-on-chips, which perform the high-speed computations that help in identifying and controlling the flow of signals and data in various network equipment used in the communications, storage, and enterprise markets.