Call Spread Sold on CIT Group (CIT)

Shares of CIT Group Inc.

are higher on the session by 1.17%, currently trading at $33.65. The stock has been trading largely lower over the past three months and has broken through a few key support levels. It appears that a large trader was selling upside on the name today. The January 2011 $35/41 call spread traded 6,760 times, for $2.06 a short while ago. The spread looks like it was sold, given that the $35 call went for $4.15 and the $41 call went for $2.09. It is possible that this spread was sold as a hedge to long shares as well, given that those respective strike prices correlate directly with key support and resistance levels for the stock. CIT Group Inc. operates as the holding company for CIT bank that provides commercial financing, leasing products, and other services to small and middle market businesses. It provides a combination of relationship, intellectual, and financial capital to its customers worldwide. Learn how to find the best

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