Calls Purchased on Rigel Pharmaceuticals

Shares of Rigel Pharmaceuticals RIGL are lower on the session by 2.83%, currently trading at $8.25. 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 September 2011 $10.00 call was purchased 1,000 times, on the offer, on open interest of 95 contracts. Overall call volume is now running at 14.67x the daily average with 79% of all calls traded being purchases on the offer. Rigel Pharmaceuticals, Inc., incorporated in June 1996, is a clinical-stage drug development company. The company discovers and develops small-molecule drugs for the treatment of inflammatory/autoimmune diseases, as well as for certain cancers and metabolic diseases.