Calls Purchased on Penn National Gaming. (PENN)

Shares of Penn National Gaming PENN are higher on the session by 6.45%, currently trading at $39.75. The stock has been moving largely higher over the past five 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 June 2011 $38.00 call was purchased 1,500 times, on the offer, on open interest of 0 contracts. Overall call volume is now running at 3.18x the daily average with 75% of all calls traded being purchases on the offer. Penn National Gaming, Inc. is a diversified, multi-jurisdictional owner and manager of gaming and pari-mutuel properties. The company owns or manages 19 facilities in 15 jurisdictions, including Colorado, Florida, Illinois, Indiana, Iowa, Louisiana, Maine, Mississippi, Missouri, New Jersey, New Mexico, Ohio, Pennsylvania, West Virginia, and Ontario.