Calls Purchased on Smithfield Foods (SFD)

Shares of Smithfield Foods Inc. SFD are lower on the session by 0.98%, currently trading at $16.16. The stock has been moving largely lower over the past six months, but has been in a bottoming pattern over the past three months and is now trading above the 50-day moving average. Options traders are buying calls on the name, betting that the stock can continue to regain ground. The September $17.00 call was purchased 2,150 times, on the offer, a short while ago; open interest on the strike is only 287 contracts. This signals new positioning on the name. Call volume is now running at 2.69x the daily average. Smithfield Foods, Inc., together with its subsidiaries, produces and markets a range of fresh meat and packaged meat products both domestically and internationally. The company operates in five se segments: Pork, International, Hog Production, Other and Corporate. For more great research like this, as well as how to play it through options…please visit Benzinga’s Options & Volatility Edge and Benzinga’s Cash Generator.