Calls Purchased on Glu Mobile

Shares of Glu Mobile GLUU are higher on the session by 2.52%, currently trading at $5.69. The stock has been moving largely higher over the past six months and is currently trading above the 50-day moving average. Options traders are buying calls on the name today. A short while ago the September 2011 $7.50 call traded 1,100 times on open interest of 1,580 contracts. Overall call volume is now running at 2.74x the daily average with 85% of all calls traded being purchases on the offer. Glu Mobile Inc. is engaged in designing, marketing and selling games for mobile phones. The company has developed and published a portfolio of casual and traditional games designed to appeal to a cross section of the subscribers served by its wireless carriers and other distributors, as well as to users of smartphones who purchase the company's games through direct-to-consumer digital storefronts.