Calls Purchased on Focus Media Holding Limited (FMCN)

Shares of Focus Media Holding Limited FMCN are higher on the session by 3.25%, currently trading at $23.49. The stock has been moving largely lower over the past three months, but recently bounced and it 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 January 2011 $24.00 call was purchased 1,500 times, on the offer, on open interest of only 487 contracts. This signals new positioning on the strike. The April 2011 $28.00 call was also purchased 930 times on open interest of 3,005 contracts. Overall call volume is now running at 3.64x the daily average with 87% of all calls traded being purchases on the offer. Focus Media Holding Limited is multi-platform digital media company. The networks operated by the company include liquid crystal display display network, poster frame network, in-store network, Internet advertising services network, billboard network and movie theater advertising network.