Calls Purchased on Smart Modular Technologies (SMOD)

Shares of Smart Modular Technologies Inc. SMOD are lower on the session by 1.79%, currently trading at $5.49. The stock has been moving largely lower over the past four months, off from recent highs near $8.75. Options traders are betting that the stock may be near a bottom and are buying calls. The October $5.00 call was purchased 1,700 times, on the offer, for $0.75 earlier in the session; open interest on the strike is only 170 contracts. This signals new positioning on the name. Call volume is now running at 36.09x the daily average. SMART Modular Technologies, Inc. is a designer, manufacturer and supplier of subsystems primarily to original equipment manufacturers.