Calls Purchased on Fuqi International (FUQI)
November 22, 2010 1:36 PM
Shares of Fuqi International (NASDAQ: FUQI) are higher on the session by 3.07%, currently trading at $6.37. The stock has been moving largely lower over the past six months and is currently trading below the 50-day and 200-day moving averages.
Options traders are buying calls on the name today. A short while ago the March 2011 $8.00 call was purchased 2,800 times, on the offer, for $0.95 on open interest of only 172 contracts. This signals new positioning on the name.
Overall call volume is now running at 7.03x the daily average with 73% of all calls traded being purchases on the offer.
Fuqi International, Inc. is a designer of precious metal jewelry in China, developing, promoting, and selling a range of products in the Chinese luxury goods market. The company's products consist of a range of styles and designs made from gold and other precious metals, such as platinum and Karat gold.
