Calls Purchased on Jaguar Mining (JAG)

Shares of Jaguar Mining

are lower on the session by 2.66%, currently trading at $6.58. The stock has been moving largely lower over the past six month, trending lower below the 50-day and 200-day moving averages. Shares recently spiked above the 50-day, but failed to hold the level. Options traders are buying calls on the name today. A short while ago the March 2011 $7.50 call was purchased 1,500 times, on the offer, on open interest of 11,985 contracts. Overall call volume is now running at 4.47x the daily average with 70% of all calls traded being purchases on the offer. Jaguar Mining Inc. engaged in the acquisition, exploration, development and operation of gold producing properties at its 93,000-acre land base in the Iron Quadrangle region of Brazil, a greenstone belt located near the city of Belo Horizonte in the state of Minas Gerais.