Upside Purchased on Vivo Participacoes (VIV)

Shares of Vivo Participacoes S.A. (NYSE: VIV) are higher on the session by 1.71%, currently trading at $24.98. The stock has been moving largely lower over the past six months and is trading is a downward trending pattern. VIV is currently below the 50-day moving average.

Options traders are buying calls on the name today. The January 2011 $30.00 call was just purchased 1,050 times, on the offer, for $1.15; open interest on the strike is 1,500 contracts.

Call volume is now running at 10.19x the daily average, with 100% of all calls traded being purchases on the offer.

Vivo Participacoes S.A. is a provider of cellular telecommunication services in brazil, through its wholly owned subsidiary, Vivo S.A. Vivo S.A. is a cellular operator in the states of Acre, Alagoas, Amapa, Amazonas, Bahia, Ceara, Espirito, Santo, Goias, Maranhao, Mato Grosso, Mato Grosso do Sul, Para Parana, Pernambuco, Piaui, Rio de Janeiro, Rio Grande do Norte, Rio Grande do Sul, Rondonia, Roraima, Santa Catarina, Sao Paulo, Sergipe, Tocantins and Minas Gerais, through its subsidiary Telemig Celular. On December 31, 2009, Vivo S.A. had 15.7 million cellular lines in service in the areas.

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