Calls Purchased on Ingersoll-Rand (IR)
November 11, 2010 11:58 AM
Shares of Ingersoll-Rand plc (NYSE: IR) are higher on the session by 3.65%, currently trading at $42.64. The stock has been moving largely higher over the past four months and is currently trading above the 50-day and 200-day moving averages. Shares hit a fresh 52-week high this morning.
Options traders are buying calls on the name today. A short while ago the November $43.00 call was purchased 1,000 times, on the offer, on open interest of only 433 contracts. This signals new positioning on the strike.
Overall call volume is now running at 2.64x the daily average with 73% of all calls traded being purchases on the offer.
Ingersoll-Rand plc, formerly Ingersoll-Rand Company Limited, along with its subsidiaries, is a diversified, global company that provides products, services and solutions to enhance the quality of air in homes and buildings, transport and protect food and perishables, secure homes and commercial properties, and enhance industrial productivity.
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