Calls Purchased on ArcelorMittal

Shares of ArcelorMittal MT are higher on the session by 1.24%, currently trading at $32.53. The stock has been moving largely lower over the past three months and is currently trading below the 50-day and 200-day moving averages. Options traders are buying calls on the name today. A short while ago the June 2011 $33.00 call was purchased 10,000 times, on the offer, on open interest of 1,879 contracts. Overall call volume is now running at 4.10x the daily average with 89% of all calls traded being purchases on the offer. ArcelorMittal is a global steel producer. During the year ended December 31, 2010, ArcelorMittal had steel shipments of approximately 85 million tons and crude steel production of approximately 90.6 million tons. ArcelorMittal produces a range of finished and semi-finished products.