Calls Purchased on SAP

Shares of SAP SAP are lower on the session by 1.75%, currently trading at $57.82. The stock has been moving largely lower over the past three months and is currently trading below the 50-day moving average. Options traders are buying calls on the name today. A short while ago the August 2011 $60.00 call traded 1,100 times on open interest of 321 contracts. Overall call volume is now running at 2.18x the daily average with 89% of all calls traded being purchases on the offer. SAP AG is engaged in enterprise applications in terms of software and software-related service revenue. The company's core business is selling licenses for software solutions and related services to deliver a range of choices fitting the varying functional needs of its customers.