FirstEnergy (FE, news, chart, volatility) order flow is bullish, with total volume running at 3 times the average daily levels. Feb 55 calls are leading the flow, with more than 2,000 traded. Open interest is 718 and looks like opening call buys. ISEE Sentiment data confirms it. Shares of the Akron, OH-based electric utility recently caught a bid after Bloomberg reported the company’s Ohio units won a power distribution rate increase. FE calls saw increasing interest Friday as well.Ãƒâ€šÃ‚Â
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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.