Calls Purchased on Nova Measuring Instruments (NVMI)

Shares of Nova Measuring Instruments NVMI are flat on the session, currently trading at $9.06. The stock has been moving largely higher over the past four months, but recently came under selling pressure and is now trading below the 50-day moving average.

Options traders are buying calls on the name today. A short while ago the August 2011 $10.00 call was purchased 1,250 times, on the offer, for $1.50 on open interest of only 249 contracts. This signals new positioning on the strike.

Overall call volume is now running at 10.64x the daily average with 88% of all calls traded being purchases on the offer.

Nova Measuring Instruments Ltd. is a designer, developer and producer of integrated process control metrology systems. The company also designs, manufactures and sells metrology used in the manufacturing process of semiconductors. Nova supplies its metrology systems to semiconductor manufacturers worldwide, either directly or through process equipment manufacturers.