Calls Purchased on The Timken Company (TKR)

Shares of The Timken Company TKR are higher on the session by 1.23%, currently trading at $51.66. 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 March 2011 $55.00 call was purchased 936 times, on the offer, on open interest of only 648 contracts. This signals new positioning on the strike. Overall call volume is now running at 12.76x the daily average with 96% of all calls traded being purchases on the offer. The Timken Company develops, manufactures, markets and sells products for friction management and power transmission, alloy steels and steel components. Timken's portfolio includes a range of friction management products and maintenance services.