Calls Purchased on Spreadtrum Communications (SPRD)

Shares of Spreadtrum Communications Inc.

are lower on the session by 2.12%, currently trading at $10.62. The stock has been moving largely higher over the past four months and is trading near its 52-week high, set earlier in the session. Options traders are buying calls today, perhaps as hedges to short shares. Though action ahs been primarily in small lots, call volume is now running at 3x the daily average. Traders are buying the $7.50, $10.00, and $12.50 strikes in multiple months. Spreadtrum Communications, Inc. is a fabless semiconductor company that designs, develops and markets baseband processor, radio frequency (

) transceiver and turnkey solutions for the wireless communications and mobile television market.