Calls Purchased on The Timken Company

Shares of The Timken Company TKR are lower on the session by 3.44%, currently trading at $45.74. The stock has been moving largely lower over the past three months and is currently trading below the 200-day moving average. Options traders are buying calls on the name today. A short while ago the August 2011 $50.00 call traded 1,000 times on open interest of 1,678 contracts. Overall call volume is now running at 7.25x the daily average with 76% 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.