One trader is selling in-the-money covered calls in small-business lender CIT Group (NYSE: CIT) to capture profits. CIT fell sharply last month, and is down fractionally today to $43.19. CIT has found support around $42.70 after falling from near $49 a month ago.

One call trade should catch the attention of options trading investors, both because the volume is much more than the open interest and because these calls are in-the-money. OptionMONSTER’s systems show that 5,000 CIT July 41 Calls were sold for $4.10 against long stock as a buy-write position.

A block of 500,000 shares of CIT were bought for $42.80 less than a minute after the calls traded. This means that the trader will earn $2.30 if shares are anywhere above $41 and collect some profits with the stock above $38.70 as well.