Celanese Corp (CE) $37.53 +2.71%
Celanese (CE) adds 96 cents to $37.50 and a bullish spread is initiated on the Dallas, TX chemicals company, after an investor apparently sold Sep 30 puts to buy a Sep 42.5 – 47.5 call spread, paying 15 cents, 2000X on AMEX, and opening a new position. The stock was trading near $50 per share in late-April and its best levels in months, but has been trending lower and is down about 25 percent since that time. Today’s spread trader is possibly looking for the stock to recover most of that loss through mid-September.
Category: All Stocks, Chemicals, Mid Cap Stocks
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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.
