Upside Purchased on Norfolk Southern (NSC)

Shares of Norfolk Southern Corp. NSC are higher on the session by 2.32%, currently trading at $51.67. The stock has been trading largely lower over the past three months and is currently trading in a downward trend. Options traders are buying calls, however, betting that the stock could rally from here. The August $55.00 call was purchased 3,400 times, on the offer, on open interest of only 1,400 contracts. This suggests new, bullish positioning on the strike. Call volume is now running at 2.2x the daily average. Norfolk Southern Corporation controls a freight railroad, Norfolk Southern Railway Company. Norfolk Southern Railway Company is primarily engaged in the rail transportation of raw materials, intermediate products, and finished goods primarily in the Southeast, East, and Midwest and, through interchange with rail carriers, to and from the rest of the United States.