Calls Spread Purchased on Anixter International (AXE)

Shares of Anixter International Inc. AXE are higher on the session by 3.51%, currently trading at $46.02. The stock has been drifting lower over the past month and a half and is currently struggling to hold the 200-day moving average. A call spread was purchased on the Anixter today; the July $40/50 spread was purchased 500 times for $5.65 earlier in the session. Volume exceeded interest on both strikes. Call volume is now running at 15x the daily average. Anixter International Inc. is engaged in the distribution of communications and electrical wire and cable products and fasteners and other small parts, through Anixter Inc. and its subsidiaries