Market Overview

Calls Purchased on Manitowoc Inc. (MTW)

Shares of The Manitowoc Company, Inc. (NYSE: MTW) are lower on the session by 2.89%, currently trading at $9.42. The stock has been moving largely lower over the past six months, off from recent highs near $16.00.

Options traders are betting on a bit of a rally around these levels. The January 2011 $10.00 call was purchased 5,000 times, on the offer, a short while ago; open interest on the strike is 9,970 contracts.

Call volume is now running at 3.80x the daily average.

The Manitowoc Company, Inc. is a multi-industry, capital goods manufacturer. It operates in two markets: Cranes and Related Products and Foodservice Equipment. Teh crane division is the provider of engineered lifting equipment for the global construction industry, including lattice-boom cranes, tower cranes, mobile telescopic cranes, and boom trucks. The foodservice division is engaged in manufacturing of commercial foodservice equipment serving the ice, beverage, refrigeration, food-preparation, cooking needs of restaurants, convenience stores, hotels, healthcare, and institutional applications.

Posted-In: Long Ideas Technicals Options Trading Ideas

 

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