Calls Purchased on ON Semiconductor (ONNN)

Shares of ON Semiconductor Corp. (NASDAQ: ONNN) are higher on the session by 2.56%, currently trading at $7.22. The stock has been trading largely lower over the past six months, off from recent highs near $9.00. The stock has been attracting bulls as of late, though. Options traders are buying calls on the name today. The August $8.00 call was purchased 1,100 times, on the offer, on open interest of 2,578 contracts and the January $7.50 call was purchased 4,000 times, on the offer, on open interest of 4,596 contracts. Call volume is now running at 3.51x the daily average. ON Semiconductor Corporation is a global supplier of power, analog, digital signal processing, mixed signal, advanced logic, data management semiconductors, memory and standard semiconductor components, and integrated circuits. The company designs, manufactures and markets a portfolio of semiconductor components that address the design needs of electronic systems and products.