Calls Sold in Harmony Gold

Shares of Harmony Gold HMY are lower on the session by 2.38%, currently trading $9.02. The stock has been moving slowly lower over the past six months and is trading below the 50-day and 200-day moving averages. Its looks like the $9 level may be a support level for the stock, though. I am detecting call selling on the name toady with the January 2011 $11 calls sold on the bid for $0.65 5,000 times. Open interest on the strike was only 65 contrasts, which suggests new, bearish positioning. This trade looks to be executed on an existing long share position in the name. This would allow the trader to take advantage of near term volatility in the name to get short calls.