Huge Call Buying in Louisiana Pacific

Shares of Louisiana Pacific Corp. LPX are markedly higher at the opening today; currently shares are trading higher by 4.29% to $9.83 and call buyers are flooding the name with over 13,000 of the June $10 calls bought on the offer within the first ten minutes of trading. This action vastly outpaces the 1,321 contracts currently open. The stock is battling with the 50-day moving average and looks like it will hold; the options action in the name certainly suggests so. Louisiana Pacific corp. is principally engaged in the manufacturing of building products.