Bulls Buying Upside on Varian Semiconductor (VSEA)

Shares of Varian Semiconductor VSEA are lower on the session by 1.86%, currently trading at $43.35. The stock has been moving largely higher over the past five months and is currently trading above the 200-day moving average. Options traders are buying calls on the name today. A short while ago the May 2011 $55.00 call was purchased 1,500 times, on the offer, on open interest of 372 contracts. Overall call volume is now running at 4.37x the daily average with 99% of all calls traded being purchases on the offer. Varian Semiconductor Equipment Associates, Inc. is a supplier of ion implantation systems, which the company refers to as tools, used in the fabrication of integrated circuits, which it refers to as microchips or chips.