Calls Purchased on Emulex Corporation (ELX)

Shares of Emulex Corporation

are lower on the session by 1.35%, currently trading at $12.46. The stock has been moving largely higher over the past six months and 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 January 2011 $12.50 call was purchased 2,000 times, on the offer, on open interest of 4,294 contracts. Overall call volume is now running at 2.15x the daily average with 93% of all calls traded being purchases on the offer. Emulex Corporation is a provider of a range of network convergence solutions that connect servers, storage, and networks within the data center.