Calls Purchased on H. J. Heinz Company (HNZ)

Shares of H. J. Heinz Company

are higher on the session by 1.60%, currently trading at $49.72. The stock had been moving largely lower over the past four months, but recently popped higher. It 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 March 2011 $50.00 call was purchased 1,000 times, on the offer, on open interest of 3,072 contracts. Overall call volume is now running at 2.89x the daily average with 78% of all calls traded being purchases on the offer. H. J. Heinz Company, together with its subsidiaries, is engaged in manufacturing and marketing a range of food products globally. The company's principal products include ketchup, condiments and sauces, frozen food, soups, beans and pasta meals, infant nutrition and other food products.