Calls Purchased on King Pharma (KG)

Shares of King Pharmaceuticals Inc. KG are higher on the session by 1.85%, currently trading at $8.26. The stock has been falling for the past two months and is now trading below both the 50-day and 200-day moving averages. Options traders are betting on a rally today. The July $10 call was purchased 2,200 times on open interest of 2,436 contracts and the August $10 call was purchased 2,000 times on open interest of just 15 contracts. Call volume is now running at 6.25x the daily average. King Pharmaceuticals, Inc. is a vertically integrated pharmaceutical company that performs basic research and develops, manufactures, markets and sells branded prescription pharmaceutical products and animal health products.