Calls Purchased on Star Scientific (CIGX)
Shares of Star Scientific Inc. (NASDAQ: CIGX) are higher on the session by 6.69%, currently trading at $2.15. The stock has been moving higher over the past two months and is currently trading above the 50-day and 200-day moving averages.
Options traders are buying calls on the name today. The August $2.50 call was purchased 1,000 times on the offer on open interest of 4,158 contracts. There have also been quite a lot of smaller lots traded on the name on the $1.50 and $2.00 strikes in multiple months.
Call volume is now running at 2.82x the daily average.
Star Scientific, Inc. is engaged in the development of very low-tobacco-specific nitrosamines, non-fermented smokeless tobacco products. The company is also engaged in the development, implementation and licensing of its technology for the curing of tobacco so as to prevent the formation of carcinogenic toxins present in tobacco and tobacco smoke.
