Calls Purchased on Flextronics International (FLEX)

Shares of Flextronics International (NASDAQ: FLEX) are higher on the session by 2.51%, currently trading at $5.31. The stock has been moving largely lower over the past five months, off from highs near $8.25.

Options traders are betting that the stock can rally from here and are buying calls. The January 2011 $7.50 call was purchased 1,307 times, on the offer, a short while ago; open interest on the strike is 19,671 contracts.

Call volume is now running at 2.28x the daily average.

Flextronics International Ltd. is a provider of vertically-integrated advanced design and electronics manufacturing services to original equipment manufacturers.