Calls Purchased on Forest Laboratories (FRX)

Shares of Forest Laboratories FRX are higher on the session by 0.81%, currently trading at $31.61. The stock has been moving largely lower over the past two months and is currently consolidating between the 50-day and 200-day moving averages. Options traders are buying calls on the name today. A short while ago the January $32.50 call was purchased 2,000 times, on the offer, on open interest of only 1,258 contracts. This signals new positioning on the strike. The Jan 2011 $34.00 call is also seeing 1,200 contracts bought on open interest of 1,226. Overall call volume is now running at 10.25x the daily average with 86% of all calls traded being purchases on the offer. Forest Laboratories, Inc. and its subsidiaries develop, manufacture and sell branded forms of ethical drug products. The company's United States products are marketed directly, or detailed, to physicians by its salesforces. It also focuses on the development and introduction of new products, including products developed in collaboration with licensing partners.