Calls Purchased on Puda Coal, Inc. (PUDA)

Shares of Puda Coal, Inc. PUDA are higher on the session by 3.86%, currently trading at $12.64. The stock has been moving largely lower over the past four months, but it 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 March 2011 $12.50 call was purchased 900 times, on the offer, on open interest of 2,630 contracts.

Overall call volume is now running at 2.20x the daily average with 60% of all calls traded being purchases on the offer.

Puda Coal, Inc. is a supplier of high-grade metallurgical coking coal to the industrial sector in the People's Republic of China. Its processed coking coal is primarily purchased by coke and steel producers for the purpose of making the coke required for the steel manufacturing process.