Market Overview

Calls Purchased on Navios Maritime (NMM)

Shares of Navios Maritime Partners LP (NYSE: NMM) are higher on the session by 4.16%, currently trading at $17.54. The stock has been moving largely sideways over the past three months, but has caught a bid as of late.

Options traders are betting that the stock will rally from here and are buying calls. The March 2011 $12.50 and $15.00 calls were both purchased, on the offer, over 1,100 times. There was no open interest on either strike.

Call volume is now running at 21.27x the daily average.

Navios Maritime Partners L.P. is an international owner and operator of drybulk carriers formed by Navios Maritime Holdings Inc., a vertically integrated seaborne shipping company. The company's vessels are chartered out under medium to long-term time charters with an average remaining term of approximately 3.9 years.

Posted-In: Long Ideas Technicals Options Trading Ideas

 

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