Calls Purchased on US Gold

Shares of US Gold UXG are higher on the session by 8.61%, currently trading at $6.56. The stock has been moving largely higher over the past six weeks and is currently trading above the 50-day moving average. Options traders are buying calls on the name today. A short while ago the November 2011 $7.50 call traded 7,600 times on open interest of 654 contracts. Overall call volume is now running at 11.36x the daily average with 75% of all calls traded being purchases on the offer. US Gold Corporation is an exploration-stage company. The company is engaged in the exploration for gold, silver, and other valuable minerals.