Calls Purchased on Watson Pharmaceuticals (WPI)

Shares of Watson Pharmaceuticals WPI are higher on the session by 0.41%, currently trading at $51.88. The stock has been moving largely higher over the past six months and is currently trading above the 50-day and 200-day moving averages. Options traders are buying calls on the name today. A short while ago the January 2011 $50.00 call was purchased 1,500 times, on the offer, on open interest of 7,193 contracts and the Jan 2011 $55.00 call was purchased 1,900 times on open interest of 1,348 contracts. Overall call volume is now running at 7.18x the daily average with 98% of all calls traded being purchases on the offer. Watson Pharmaceuticals, Inc., a specialty pharmaceutical company, engages in the development, manufacturing, marketing, sale, and distribution of generic pharmaceuticals and specialized branded pharmaceutical products focused on urology and women's health in the United States and internationally.