Shares of Melco Crown Entertainment MPEL are lower on the session by 1.68%, currently trading at $9.96. The stock has been moving largely higher over the past six months and is currently trading above the 50-day moving average.
Options traders are buying calls on the name today. A short while ago the May 2011 $12.00 call was traded 50,000 times on open interest of just 118 contracts.
Overall call volume is now running at 17.70x the daily average with 84% of all calls traded being purchases on the offer.
Melco Crown Entertainment Limited is a developer, owner and, through its subsidiary Melco Crown Gaming, operator of casino gaming and entertainment resort facilities focused on the Macau market.
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