Calls Purchased on Fifth Third Bancorp (FITB)

Shares of Fifth Third Bancorp FITB are higher on the session by 1.01%, currently trading at $14.03. The stock has been moving largely lower over the past three months and is currently consolidating above the 200-day moving average. Options traders are buying calls on the name today. A short while ago the April 2011 $14.00 call was purchased 5,700 times, on the offer, on open interest of 6,143 contracts. Overall call volume is now running at 2.75x the daily average with 78% of all calls traded being purchases on the offer. Fifth Third Bancorp is a diversified financial services company. The Bancorp operates in four business segments: Commercial Banking, Branch Banking, Consumer Lending and Investment Advisors. At December 31, 2009, the Bancorp had $113 billion in assets, operated 16 affiliates with 1,309 full-service Banking Centers, including 103 Bank Mart locations open seven days a week inside select grocery stores and 2,358 Jeanie automated teller machines (ATMs) in the Midwestern and South-eastern regions of the United States.