Calls Purchased on Gammon Gold (GRS)

Shares of Gammon Gold Inc. GRS are higher on the session by 3.57%, currently trading at $6.96. The stock has been moving largely lower over the past six months, but has begun to rally over the past few weeks as gold future regains its momentum. Options traders are buying calls on the name for a second day in a row. Though action has been primarily in small lots, call volume is running at 5.01x the daily average. Notably, the September $7.50 call was purchased 773 times on open interest of 2,887 contracts. The $7.50 and $5.00 call are the most active. Gammon Gold Inc. is a mining company, which is also engaged in the exploration for, and development of, gold and silver deposits in Mexico. Through its subsidiaries, the company owns and operates the Ocampo gold-silver mine in Chihuahua State, Mexico, and the El Cubo gold-silver mine in Guanajuato State, Mexico, both of which are producing gold and silver.