Calls Sold on Northrop Grumman (NOC)

Shares of Northrop Grumman NOC are flat on the session, currently trading at $58.86. The stock has been trading lower over the past two months and is now in a technical downtrend. Options traders are betting that any rally in the name will be a small one. The August $60.00 call was sold 1,300 times, on the bid, for $1.70 earlier in the session; open interest on the strike is only 715 contracts, which signals new, bearish positioning. Call volume is now running at 7.35x the daily average. Northrop Grumman Corporation is an integrated enterprise consisting of businesses that cover the entire security spectrum, from undersea to outer space and into cyberspace. The company operates in five segments: Aerospace Systems, Electronic Systems, Information Systems, Shipbuilding and Technical Services.