Calls Purchased on PMC-Sierra

Shares of PMC-Sierra PMCS are higher on the session by 3.71%, currently trading at $7.55. The stock has been moving largely lower over the past six months and is currently trading below the 200-day moving average. Options traders are buying calls on the name today. A short while ago the November 2011 $8.00 call traded 1,500 times on open interest of 487 contracts. Overall call volume is now running at 6.39x the daily average with 99% of all calls traded being purchases on the offer. PMC-Sierra, Inc. is an Internet infrastructure semiconductor solutions provider. The company designs, develops, markets and supports semiconductor solutions through a network of offices in North America, Europe and Asia.