Calls Purchased on PMC-Sierra, Inc. (PMCS)
December 01, 2010 11:35 AM
Shares of PMC-Sierra, Inc. (NASDAQ: PMCS) are lower on the session by 0.28%, currently trading at $7.23. 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 January 2011 $7.50 call was purchased 2,500 times, on the offer, on open interest of 3,747 contracts.
Overall call volume is now running at 7.90x the daily average with 71% of all calls traded being purchases on the offer.
PMC-Sierra, Inc. designs, develops, markets and supports semiconductor solutions for the Enterprise Infrastructure market and the Communications Infrastructure market. The company offers worldwide technical and sales support through a network of offices in North America, Europe and Asia.
