Calls Purchased on Aloca (AA)

Shares of Aloca AA are trading lower on the session by 1.05%, currently trading at $11.31. The stock has been moving largely lower over the past six months, though has seen some constructive trading as of late. Options traders were eager to buy calls on the name this morning, with the April 2011 $11.00 call purchased 1,200 times, on the offer for $1.50 right at the opening bell. Open interest on the strike is only 644 contracts, which signals new positioning on the name today. Alcoa Inc. is engaged in the production and management of primary aluminum, fabricated aluminum, and alumina combined. The company's products are used worldwide in aircraft, automobiles, commercial transportation, packaging, building and construction, oil and gas, defense, and industrial applications.