Calls Purchased on ON Semiconductor Corporation (ONNN)
May 05, 2011 10:35 AM
Shares of ON Semiconductor Corporation (NASDAQ: ONNN) are higher on the session by 11.31%, currently trading at $10.05. The stock has been moving largely higher over the past two 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 May $12.00 call was purchased 400 times, on the offer, on open interest of only 79 contracts.
Overall call volume is now running at 3.28x the daily average with 83% of all calls traded being purchases on the offer.
ON Semiconductor Corporation is a supplier of silicon solutions for energy electronics. The company designs, manufactures and markets a portfolio of semiconductor components. It operates in four segments: automotive and power group, standard products group, computing and consumer products group, and digital and mixed-signal product group.
