Calls Purchased on Eagle Bulk Shipping (EGLE)
November 08, 2010 1:11 PM
Shares of Eagle Bulk Shipping Inc. (NASDAQ: EGLE) are higher on the session by 1.12%, currently trading at $5.44. The stock has been moving largely higher over the past five months, bouncing off of the $4.00 level and rallying back above the 50-day and 200-day moving averages.
Options traders are buying calls on the name today. A short while ago the December $6.00 call was purchased 1,400 times, on the offer, on open interest of 1,181 contracts.
Overall call volume is now running at 4.05x the daily average with 88% 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.
