Calls Purchased on Gramercy Capital Corp. (GKK)
March 22, 2011 10:31 AM
Shares of Gramercy Capital Corp. (NYSE: GKK) are lower on the session by 1.67%, currently trading at $4.12. The stock has been moving largely higher over the past four months and is currently consolidating around the 50-day moving average.
Options traders are buying calls on the name today. A short while ago the April 2011 $5.00 call was purchased 3,200 times, on the offer, on open interest of only 764 contracts. This signals new positioning on the strike.
Overall call volume is now running at 6.69x the daily average with 100% of all calls traded being purchases on the offer.
Gramercy Capital Corp. is an integrated commercial real estate finance and property investment company. Its property investment business, which operates under the name Gramercy Realty, focuses on the acquisition and management of commercial properties leased to regulated financial institutions and affiliated users throughout the United States.
