Calls Purchased on LogMeIn, Inc. (LOGM)
February 07, 2011 4:26 PM
Shares of LogMeIn, Inc. (NASDAQ: LOGM) are higher on the session by 2.44%, currently trading at $41.19. The stock has been moving largely higher over the past six months and is currently trading above the 200-day moving average.
Options traders are buying calls on the name today. A short while ago the February 2011 $40.00 call was purchased 1,000 times, on the offer, on open interest of only 307 contracts. This signals new positioning on the strike.
Overall call volume is now running at 4.72x the daily average with 83% of all calls traded being purchases on the offer.
LogMeIn, Inc. is a provider of on-demand, remote-connectivity solutions to small and medium-sized businesses, information technology service providers and consumers. Businesses and IT service providers use its solutions to deliver remote, end-user support, and to access and manage computers and other Internet-enabled devices more effectively.
