Calls Purchased on Commercial Metals Co. (CMC)

Shares of Commercial Metals Co. CMC are higher on the session by 2.04%, currently trading at $13.97. The stock has been trading largely lower over the past six months and is trading in a downward trend. Options traders are betting that the stock breaks out of its recent downtrend and are buying calls. The September $16.00 call was just purchased 1,100 times, on the offer, a short while ago; open interest on the strike is only 887 contracts. This signals new positioning on the name. Call volume is now running at 2.15x the daily average. Commercial Metals Company recycles, manufactures, fabricates and distributes steel and metal products, and related materials and services through a network of locations located throughout the United States and internationally.