Cemex (CX) loses 7 cents to $5.61 and morning trades on the Mexican cement company include a multi-exchange sweep of 3,913 Apr 3 puts for 16 cents per contract. Data from ISE indicate an opening buyer. 5,215 now traded against 9,473 in open interest. Implied volatility is steady around 68. CX shareholders endured a gut-wrenching stretch during the first nine months of 2011, as shares fell from $10.25 on the last day of 2010 to a 52-week low $2.60 on 10/3. Shares have since rallied 96.1 percent off those lows, but today’s April $3 put buyers are possibly bracing for another round of losses in CX over the first few months of 2012.