AK Steel Draws Call Activity (AKS)

Shares of AK Steel Holding Corp. AKS are higher on the session by 6.77%, currently trading at $12.30. The stock has been trading largely lower over the past six months and is currently in a technical downtrend. Options traders are picking up some calls on the name today, though. The July $12 and $14 strikes were both purchased over 3,000 times and the July $13.00 call was purchased nearly 10,000 times on open interest of just 2,393 contracts. The vast majority of this volume was opening purchases. Call volume is now running at 2.25x the daily average. AK Steel Holding Corporation is a producer of flat-rolled carbon, stainless and electrical steels, and tubular products through its wholly owned subsidiary, AK Steel Corporation. The company's operations consist of seven steelmaking and finishing plants located in Indiana, Kentucky, Ohio and Pennsylvania that produce flat-rolled carbon steels, including coated, cold-rolled and hot-rolled products, and specialty stainless and electrical steels that are sold in hot band, and sheet and strip form.