Calls Purchased on Glu Mobile Inc.

Shares of Glu Mobile Inc. GLUU are higher on the session by 5.36%, currently trading at $5.50. The stock has been moving largely higher over the past six 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 July 2011 $7.50 call was purchased 3,000 times, on the offer, on open interest of 1,542 contracts. Overall call volume is now running at 4.35x the daily average with 78% of all calls traded being purchases on the offer. Glu Mobile Inc. is engaged in designing, marketing and selling games for mobile phones. The company has developed and published a portfolio of casual and traditional games designed to appeal to a cross section of the subscribers served by its wireless carriers and other distributors, as well as to users of smartphones who purchase the Company's games through direct-to-consumer digital storefronts.