Bulls Tuning Into Sony Corporation (SNE)

Shares of Sony Corporation SNE are lower on the session by 2.09%, currently trading at $27.22. The stock has been moving largely lower over the past four months and is currently trading below the 50-day and 200-day moving averages. Options traders are buying calls on the name today. A short while ago the July 2011 $30.00 call was purchased 2,000 times, on the offer, on open interest of only 248 contracts. This signals new positioning on the strike. Overall call volume is now running at 2.23x the daily average with 88% of all calls traded being purchases on the offer. Sony Corporation is engaged in the development, design, manufacture, and sale of various kinds of electronic equipment, instruments, and devices for consumer, professional and industrial markets, as well as game consoles and software. Sony's primary manufacturing facilities are located in Japan, Europe, and Asia.