Calls Purchased on Medivation, Inc. (MDVN)

Shares of Medivation, Inc. MDVN are higher on the session by 0.27%, currently trading at $14.64. The stock has been moving largely higher over the past four months and 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 February 2011 $13.00 call was purchased 1,600 times, on the offer, for $2.00 on no prior open interest. This signals new positioning on the name. Overall call volume is now running at 4.57x the daily average with 98% of all calls traded being purchases on the offer. Medivation, Inc. is a biopharmaceutical company. The company focuses on the development of small molecule drugs to treat serious diseases