Calls Purchased on ION Geophysical Corporation

Shares of ION Geophysical Corporation IO are higher on the session by 2.55%, currently trading at $10.05. The stock has been moving largely lower over the past three weeks 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 July 2011 $10.00 call was purchased 3,900 times, on the offer, on open interest of 1,346 contracts. Overall call volume is now running at 7.16x the daily average with 89% of all calls traded being purchases on the offer. ION Geophysical Corporation is a technology-focused seismic solutions company, which provides seismic data acquisition equipment, seismic software, and seismic planning, processing, and interpretation services to the global energy industry.