Calls Purchased on Novartis

Shares of Novartis AG NVS are lower on the session by 2.74%, currently trading at $55.78. 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 January 2012 $60.00 call traded 890 times on open interest of 1,447 contracts. Overall call volume is now running at 2.27x the daily average with 90% of all calls traded being purchases on the offer. Novartis AG provides healthcare solutions. The company's portfolio includes medicines, preventive vaccines and diagnostic tools, generic pharmaceuticals and consumer health products.