Calls Purchased on PMC-Sierra, Inc. (PMCS)
March 07, 2011 1:35 PM
Shares of PMC-Sierra, Inc. (NASDAQ: PMCS) are lower on the session by 2.86%, currently trading at $7.80. The stock has been moving largely lower over the past two 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 August 2011 $11.00 call was purchased 5,000 times, on the offer, on open interest of 308 contracts. The Aug $10.00 strike is also active.
Overall call volume is now running at 27.24x the daily average with 85% 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.
