Upside Purchased on ArvinMeritor, Inc. (ARM)
October 05, 2010 10:41 AM
Shares of ArvinMeritor, Inc. (NYSE: ARM) are higher on the session by 5.79%, currently trading at $16.26. The stock has been moving largely sideways for the past six months, though is now nearing a break out level at $17.00.
Options traders are buying calls on the name today as well. A short while ago the November $15.00 call was purchased 2,600 times, on the offer, on open interest of 5,971 contracts. Call volume is now running at 3.22x the daily average, 76% on the offer.
ArvinMeritor, Inc. is a global supplier of a range of integrated systems, modules and components to original equipment manufacturers and the aftermarket for the commercial vehicle, transportation and industrial sectors. Its principal products are axles, undercarriages, drivelines, brakes and braking systems, and roofs and door systems.
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