Cemex (CX) adds 16 cents to $5.73 and options volume on the Mexican cement company is running almost 4X the daily average, being led by a 10000-lot of Jul 6 calls for 45 cents when the market was 42 to 45 cents. 12,450 now tarded and appears to be opening activity, tied to 506K shares at $5.66. Some players are possibly buying upside calls and looking for the stock to bounce after the 28.5 percent slide suffered during the first 13 trading days in May. Shares have already rallied 11.5 percent off Friday’s lows. Earnings were reported on 4/26.
About the Author (Author Profile)
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.