Calls Purchased on ON Semiconductor Corporation (ONNN)
November 01, 2010 11:50 AM
Shares of ON Semiconductor Corporation (NASDAQ: ONNN) are higher on the session by 1.76%, currently trading at $7.80. The stock has been moving largely higher over the past two months, bottoming near $6.00 and rallying above the 50-day and 200-day moving averages.
Options traders are buying calls on ONNN today. A short while ago the December $8.00 call was purchased 2,000 times, on the offer, on open interest of only 925 contracts. This signals new positioning on the strike.
Overall call volume is now running at 2.34x the daily average with 65% of all calls traded being purchases on the offer.
ON Semiconductor Corporation is a global supplier of power, analog, digital signal processing, mixed signal, advanced logic, data management semiconductors, memory and standard semiconductor components, and integrated circuits.
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