Calls Purchased on Symantec Corp. (SYMC)

Shares of Symantec Corp.

are higher on the session by 1.58%, currently trading at $14.82. The stock has been moving largely lower over the past six months and is currently in a technical downtrend. Options traders are buying calls on the name, though, betting that the stock may have bottomed. Though action has been mostly in small lots, the January 2011 $14 call was purchased 1,500 times as well. Open interest on the strike was 1,774 contracts. Call volume is currently running at 2.11x the daily average with over 70% of all calls traded being purchases on the offer. Symantec Corporation is a global provider of security, storage, and systems management solutions that help businesses and consumers secure and manage their information. It conducts the business in three geographic regions: Americas, which is comprised of the United States, Canada, and Latin America; Europe, the Middle East and Africa; and Asia Pacific Japan.