Calls Purchased on Eagle Bulk Shipping (EGLE)

Shares of Eagle Bulk Shipping Inc. (NASDAQ: EGLE) are higher on the session by 0.94%, currently trading at $5.38. The stock has been moving largely higher over the past four months and is trading above the 50-day and 200-day moving averages. $6.00 has been significant resistance in the past.

Options traders are buying calls on the name today. A short while ago the November $6.00 call was purchased 1,000 times, on the offer, on open interest of only 77 contracts. This signals new positioning on the strike.

Overall call volume is now running at 3.32x the daily average with 95% of all calls traded being purchases on the offer.

Eagle Bulk Shipping Inc. is engaged primarily in the ocean transportation of a range of major and minor bulk cargoes, including iron ore, coal, grain, cement and fertilizer, along worldwide shipping routes. The company operates in the Handymax sector of the dry bulk industry, with emphasis on the Supramax class of vessels.

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