Calls Purchased on QLogic Corporation (QLGC)
January 13, 2011 2:02 PM
Shares of QLogic Corporation (NASDAQ: QLGC) are higher on the session by 1.87%, currently trading at $17.46. The stock has been moving largely sideways over the past three months and is currently consolidating between the 50-day and 200-day moving averages.
Options traders are buying calls on the name today. Though action has been primarily in small lots, overall call volume is now running at 3.07x the daily average with 99% of all calls traded being purchases on the offer.
Traders are buying the $17.50 and $20.00 strikes in multiple months.
QLogic Corporation is a designer and supplier of network infrastructure products that enhance, manage and support the transmission of data from computer servers to storage systems and from computer servers to other servers.
