Ingersoll Rand (IR) is off 25 cents to $20 and 5,281 June 22.5 calls traded ahead of a presentation at the Sanford Bernstein 2009 Strategic Decisions Conference in NY. Company’s CEO will discuss IR’s longer strategy beginning in about 45 minutes.Top two trades are 1,291 and 879 June 22.5 calls for 25 cents on the ISE; which, according to ISEE data, are NOT opening customer buys. Maybe closing or a firm purchase??? Not sure.Seem to have hit ask-side. Implied volatility is up to 54, from 52, ahead of the news.