Calls Purchased on Neurocrine Biosciences

Shares of Neurocrine Biosciences NBIX are higher on the session by 1.61%, currently trading at $5.68. The stock has been moving largely lower over the past six weeks 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 $8 call traded 1,000 times on open interest of 2,930 contracts. Overall call volume is now running at 8.51x the daily average with 90% of all calls traded being purchases on the offer. Neurocrine Biosciences, Inc. discovers, develops and commercializes drugs for the treatment of neurological and endocrine-related diseases and disorders.