Calls Purchased on Steel Dynamics (STLD)

Shares of Steel Dynamics STLD are higher on the session by 0.19%, currently trading at $18.07. The stock has been moving largely higher over the past six months and is currently trading above the 50-day and 200-day moving averages. Options traders are buying calls on the name today. A short while ago the January 2011 $17.50 call was purchased 3,000 times, on the offer, on open interest of 20,127 contracts. Overall call volume is now running at 2.07x the daily average with 87% of all calls traded being purchases on the offer. Steel Dynamics, Inc. is a steel producer and metals recycler. The primary sources of its revenues are from the manufacture and sale of steel products; processing and sale of recycled ferrous and nonferrous metals, and to a lesser degree, fabrication and sale of steel joist and decking products.