Calls Purchased on Kellogg Company (K)

Shares of Kellogg Company K are higher on the session by 2.47%, currently trading at $54.40. The stock has been moving largely higher over the past three 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 $55.00 call was purchased 1,000 times, on the offer, on open interest of 384 contracts. Overall call volume is now running at 5.31x the daily average with 88% of all calls traded being purchases on the offer. Kellogg Company is engaged in the manufacturing and marketing of ready-to-eat cereal and convenience foods. The company's principal products are ready-to-eat cereals and convenience foods, such as cookies, crackers, toaster pastries, cereal bars, fruit snacks, frozen waffles and veggie foods.