Calls Purchased on PDL BioPharma

Shares of PDL BioPharma PDLI are higher on the session by 7.48%, currently trading at $6.18. The stock has been moving largely lower over the past two months, though it is currently trading above the 50-day moving average. Options traders are buying calls on the name today. Though action has been primarily in small lots, overall call volume is now running at 5.54x the daily average with 84% of all calls traded being purchases on the offer. PDL BioPharma, Inc. is engaged in the management of its antibody humanization patents and royalty assets, which consist of its Queen et al. patents and license agreements with pharmaceutical and biotechnology companies.