Calls Active on ITT Corp. (ITT)

Shares of ITT Corp. ITT are lower on the session by 0.33%, currently trading at $45.34. The stock has been moving largely lower over the past six months and has had trouble with the 50-day moving average a number of times. Options traders are betting that the stock can rally from these levels. The October $50.00 call was purchased 1,000 times, on the offer, a short while ago; open interest on the strike is 2,551 contracts. Traders were also buying the January 2011 $50 and $55 calls in small lots. Call volume is now running at 3.45x the daily average. ITT Corporation is a global engineering and manufacturing company. It designs, manufactures and sales a range of engineered products. The Company operates in three business segments: Defense Electronics & Services, Fluid Technology, and Motion & Flow Control.