Calls Purchased on Applied Micro Circuits Corporation (AMCC)

Shares of Applied Micro Circuits Corporation (NASDAQ: AMCC) are lower on the session by 1.80%, currently trading at $10.37. The stock has been moving largely sideways over the past six months and is currently consolidating around the 50-day and 200-day moving averages.

Options traders are buying calls on the name today. A short while ago the August 2011 $15.00 call was purchased 5,000 times, on the offer, on open interest of 15 contracts. The Aug $12.50 strike is also active.

Overall call volume is now running at 30.07x the daily average with 83% of all calls traded being purchases on the offer.

Applied Micro Circuits Corporation provides semiconductor solutions for the enterprise, telecom and consumer/small medium business (SMB) markets.