Calls Purchased on ON Semiconductor

Shares of ON Semiconductor ONNN are higher on the session by 3.25%, currently trading at $9.22. The stock has been moving largely lower over the past three 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 August 2011 $10.00 call traded 1,100 times on open interest of 1,770 contracts. Overall call volume is now running at 2.78x the daily average with 86% of all calls traded being purchases on the offer. ON Semiconductor Corporation is a supplier of silicon solutions for energy electronics. The company designs, manufactures and markets a portfolio of semiconductor components.