AJG – Arthur J. Gallagher & Co. – The international insurance brokerage and risk management services firm appeared on our ‘hot by options volume’ market scanner after call options changed hands in the September contract. AJG’s shares are currently down 0.05% to stands at $25.79 as of 3:00 pm (ET). Investors purchased 1,800 in-the-money calls at the September $25 strike for an average premium of $1.30 apiece. Call buyers are perhaps selecting in-the-money calls because on Thursday the firm declared a regular quarterly cash dividend of $0.32 per share of common stock of the company payable on October 15, 2010, to shareholders of record as of September 30, 2010. Investors long the calls are entitled to that dividend if they exercise their contracts and take ownership of shares of the underlying stock by September expiration.