AK Steel (AKS, news, chart, volatility) is up 33 cents to $10.17 and 7,300 calls have traded, cmpared to 850 puts. The relative strength in the stock might be due to some takeover chatter. Seems unlikely, but it’s out there, according to a media contact. The top two trades in AKS are in the March 12.5/20 call spread. It appears to have been sold 2000x for $1.35 on the ISE, possibly closing.
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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.