Calls Purchased on Savient Pharmaceuticals

Shares of Savient Pharmaceuticals SVNT are higher on the session by 0.43%, currently trading at $7.02. The stock has been moving largely lower over the past three months and is currently trading below the 50-day moving average. Options traders are buying calls on the name today. A short while ago the August 2011 $8.00 call traded 700 times on open interest of 2,012 contracts. Overall call volume is now running at 3.31x the daily average with 97% of all calls traded being purchases on the offer. Savient Pharmaceuticals, Inc. is a specialty biopharmaceutical company focused on commercializing KRYSTEXXA in the United States and completing the development and seeking regulatory approval outside of the United States for KRYSTEXXA, particularly in the European Union.