Picture Perfect Break Out in EK; Call Volume Surges (EK)

Shares of Eastman Kodak Company EK are screaming higher this morning, currently up by 11.11%, trading at $5.30. Perhaps it's some of that 17.96% short interest getting jittery? The stock has been consolidating around $4.75 for the past two months, gaining support above the 50-day and 200-day moving averages. After touching the 200-day yesterday, shares have been off to the races, forming a picture perfect break out. Next resistance is at $5.40. Options traders are flocking to the calls today. Within the first two hours of trading 26,000 calls have traded versus only 2,000 puts. EK typically trades less than 1k calls every day, so this action is pretty huge. 59% of all calls traded have been purchases on the offer. Eastman Kodak Company is engaged in the sale of imaging products, technology, solutions and services to consumers, businesses and professionals. It has three segments: Consumer Digital Imaging Group, Film, Photofinishing and Entertainment Group, and Graphic Communications Group.