Calls Purchased on SuperGen Inc. (SUPG)

Shares of SuperGen Inc. (NASDAQ: SUPG) are higher on the session by 2.04%, currently trading at $2.00. The stock has been trading largely lower over the past four months and is in a technical downtrend.

Options traders are betting that the stock could spike higher, though. Though action has been primarily in small lots, call volume is now running at 8x the daily average. Traders are focusing in on the $2.50 and $5.00 strikes in multiple months.

Supergen, Inc., a pharmaceutical company, primarily engages in the discovery and development of therapies to treat patients with cancer.

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