Calls Sold on Novell Inc.

Shares of Novell Inc. (NASDAQ: NOVL) are trading lower by 1.82%, currently at $5.92. The stock is outperforming the overall market today and has been holding above the 50-day and 200-day moving averages.

It is still finding resistance around the $6.00, but looks like it may have a shot to break through.

Options traders are suggesting otherwise with calls sold across many months. The heaviest action is seen on the August $6.0, where 1,764 contracts have been sold on 6,076 contracts open. There has been a smattering of calls sold in other months as well.

Call volume is running at 2.27x the daily average with 32% of all calls trading being purchases on the offer.