Bulls Buy Into Parker Hannifin

Shares of Parker Hannifin Corp. PH are lower on the session by 2.36% to $66.57 today; the stock is now sitting on the 50-day moving average, which is a key pivot point for the stock. One options trader is betting that the stock will hold the level and break higher as they are buying the June $70 call over 1,500 times today. Parker Hannifin Corp. s a full-line diversified manufacturer of motion and control technologies and systems, including fluid power systems, electromechanical controls and related components.