Calls Purchased on ITT Corporation (ITT)

Shares of ITT Corporation ITT are higher on the session by 1.11%, currently trading at $44.78. The stock has been moving largely lower over the past three months, off from recent highs near $58.00. Options traders are betting that the stock may be near a short-term bottom and are buying calls. The August $45.00 call was purchased 1,500 times, on the offer, earlier in the session; open interest on the strike is 1,408 contracts Call volume is now running at 3.48x the daily average. ITT Corporation is a global engineering and manufacturing company. It designs, manufactures and sales a range of engineered products. The company operates in three business segments: Defense Electronics & Services, Fluid Technology, and Motion & Flow Control.