Calls Purchased on Sotheby’s (BID)

Shares of Sotheby’s BID are higher on the session by 1.81%, currently trading at $32.57. The stock has been moving largely sideways for the past four months; the stock is currently above both the 50-day and 200-day moving averages. Options traders are buying some upside today. The July $35 call was purchased 1,000 times, on the offer; open interest on the strike is 2,157 contracts. Call volume is now running at 2.4x the daily average. Sotheby's is an auctioneer of authenticated fine and decorative art, jewelry and collectibles. Sotheby's operations are organized under three segments: Auction, Finance and Dealer. Its Auction segment functions as an agent, offering authenticated works of art for sale at auction.