Calls Purchased on Owens-Illinois (OI)

Shares of Owens-Illinois OI are higher on the session by 0.79%, currently trading at $29.48. The stock has been moving largely lower over the past four 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 April 2011 $30.00 call was purchased 2,300 times, on the offer, on open interest of only 653 contracts. This signals new positioning on the strike. Overall call volume is now running at 7.05x the daily average with 100% of all calls traded being purchases on the offer. Owens-Illinois, Inc. is a manufacturer of glass containers with 81 glass manufacturing plants in 21 countries. It produces glass containers for beer, ready-to-drink low alcohol refreshers, spirits, wine, food, tea, juice and pharmaceuticals.