Heavy Call Trading in Eldorado Gold

Eldorado Gold Corp. EGO has been on a terrific tear higher along with the price of bullion as of late. Calls have been favored for quite some time, but I am seeing some mixed activity in the name today. Options trading has been largely call related, with hundred lots in the front month purchased, 2,300 June $18 calls traded, and 2,000 October $21 calls traded. While these do look like purchases in the name (which has pushed call volume to 2.23x the daily average), only 29% of all calls traded have been purchases on the offer, which may signal that market makers are looking for a top near here and are willing to give a little on premium. Nothing terribly bearish to write home about in Eldorado Gold, but definitely something to keep an eye on.