Calls Purchased on PMC-Sierra (PMCS)
January 12, 2011 12:09 PM
Shares of PMC-Sierra (NASDAQ: PMCS) are higher on the session by 1.24%, currently trading at $8.91. The stock has been moving largely higher over the past four months and is currently trading above the 50-day and 200-day moving averages.
Options traders are buying calls on the name today. A short while ago the January 2011 $9.00 call was purchased 2,300 times, on the offer, on open interest of only 553 contracts. This signals new positioning on the strike.
The Jan 2011 $10.00 call was also purchased 1,800 times on open interest of 1,657 contracts.
Overall call volume is now running at 25.02x the daily average with 84% 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.
