Titanium Metals (TIE, news, chart) is seeing double its normal trading volume on call buying. The stock is up 55 cents to $11.20 on talk the company could be taken private. 7,700 TIE calls have traded on the day, compared to just 73 puts. The August 12.5 calls are the most actives, with 82 percent of today’s volume trading offerside. Directional sentiment based on the total order flow in TIE so far today is 77 percent bullish.
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Frederic Ruffy is a well-known trader, writer, and strategist who has spent years educating investors and creating intelligent, insightful, unbiased market observations that are frequently cited by the Wall Street Journal and other financial publications. As senior analyst, Fred provides frequent and regular notes and daily updates for activity of interest.