Calls Sold on Legg Mason (LM)

Shares of Legg Mason Inc. LM are lower on the session by 1.98%, currently trading at $27.21. The stock has been moving largely lower over the past three months, off from a recent high near $34.75. Options traders are selling calls on the name today. The August $35.00 call was sold 5,400 times, on the bid, a short while ago; open interest on the strike is 6,953 contracts. This signals that a long call position was likely closed out. Call volume is currently running at 3.69x the daily average. Legg Mason, Inc. is a holding company. Legg Mason is a global asset management company. Acting through its subsidiaries, the company provides investment management and related services to institutional and individual clients, company-sponsored mutual funds and other pooled investment vehicles. It offers these products and services directly and through various financial intermediaries.