AK Steel Holding Corp (AKS) $4.91 -10.16%

| November 13, 2012 | 0 Comments More

AK Steel (AKS) is off 53 cents to $4.94 in active trading of 3.4 million shares after the company lowered fourth quarter guidance and announced an offering. 8,340 options traded on the steelmaker so far. Nov 5 puts, which are now 6 cents in-the-money and expiring at the end of this week, are the most actives in AKS. 5,320 traded (63 percent Ask) against 4,902 in open interest. At the same time, 30-day ATM vols are moving up 24 percent to 73 and now back within striking distance of the 2012 highs of 74 set on 7/23, which was just a few days before the stock touched a 52-week low of $4.66 on 7/26.

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Category: All Stocks, Basic Resources, Small 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.

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