Calls Purchased on Forest Laboratories (FRX)

Shares of Forest Laboratories FRX are lower on the session by 2.98%, currently trading at $31.92. The stock had been moving largely higher over the past six months, but recently came under selling pressure. It is currently trading between the 50-day and 200-day moving average. Options traders are buying calls on the name today. A short while ago the January 2012 $32.50 call was purchased 3,000 times, on the offer, on open interest of only 205 contracts. This signals new positioning on the strike. Overall call volume is now running at 3.49x the daily average with 78% of all calls traded being purchases on the offer. Forest Laboratories, Inc. and its subsidiaries develop, manufacture and sell branded forms of ethical drug products. The company's United States products are marketed directly, or detailed, to physicians by its salesforces.