Calls Purchased on Steel Dynamics, Inc. (STLD)

Shares of Steel Dynamics, Inc. STLD are higher on the session by 0.47%, currently trading at $17.10. The stock has been moving largely lower over the past six weeks and is currently trading below the 50-day moving average. Options traders are buying calls on the name today. A short while ago the May $18.00 call was purchased 3,000 times, on the offer, for $0.10 on open interest of 9,145 contracts. Overall call volume is now running at 3.40x the daily average with 100% of all calls traded being purchases on the offer. Steel Dynamics, Inc. is a steel producer and metals recycler in the United States. The primary sources of the company's 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.