Calls Purchased on ITT Corporation

Shares of ITT Corporation ITT are lower on the session by 0.30%, currently trading at $57.12. The stock has been moving largely lower over the past four months and is currently consolidating between the 50-day and 200-day moving averages. Options traders are buying calls on the name today. A short while ago the October 2011 $60.00 call was purchased 2,000 times, on the offer, on open interest of only 862 contracts. This signals new positioning on the strike. Overall call volume is now running at 2.23x the daily average with 99% of all calls traded being purchases on the offer. ITT Corporation is a global engineering and manufacturing organization. ITT's operates in more than 60 countries, and sales presence in more than 125 countries. It designs, manufactures and sales a range of engineered products.