Bulls Dig Up Ivanhoe

Shares of Ivanhoe Mines IVN are off 1.91% on the session to $15.89; that level is below the 50-day moving average around $16.25 and it looks like it is having troubling moving above that level, but one trader is betting that the stock breaks upwards once again. The June $18 call was purchased on the offer 10,000 times a short while ago; open interest on the strike was 13,442 contracts. Call volume in Ivanhoe Mines has grown to 2.59x the daily average with 97% of all calls traded being purchases on the offer.