Call buying picked up in MGM Mirage as traders bet the casino company may have put in a bottom, said optionMonster analyst David Russell in comments on the Web site. For disclosure, Russell is long the calls. OptionMonster's tracking programs detected bullish trading patterns in the heavily shorted leisure stock, he said. Call volume earlier was almost four times the average level amid heavy buying, while three times more puts were sold than purchased. In one notable trade, an investor snapped up about 20,000 January 2011 $20 calls against open interest of 1,739 contracts. Most of the
trades were priced for 70 cents. MGM shares rose 5.15 percent to $9.60 in

afternoon trading. "The stock also has the potential to get squeezed higher because short interest represented a hefty 43 percent of the float on Nov. 30," he said. Other players bought the January $10 calls in size for 29 cents to 37 cents, although volume was below open interest. OptionMonster programs also detected new money flowing into the January $11 calls.