Calls Purchased on Longtop Financial Technologies Limited (LFT)

Shares of Longtop Financial Technologies Limited LFT are lower on the session by 1.14%, currently trading at $32.98. The stock has been moving largely lower over the past four months and is currently trading below the 200-day moving average. Options traders are buying calls on the name today. A short while ago the June 2011 $40.00 call was purchased 1,000 times, on the offer, on open interest of only 82 contracts. This signals new positioning on the strike. Overall call volume is now running at 2.10x the daily average with 85% of all calls traded being purchases on the offer. Longtop Financial Technologies Limited together with its subsidiaries provides a range of software solutions and services to the financial institutions in the People's Republic of China, including the development, licensing and support of software solutions, the provision of maintenance, support, and other services, and system integration services related to the procurement and sale of third party hardware and software.