Shares of Cemex SAC CX are higher on the session by 0.39%, currently trading at $7.68. The stock has been moving largely lower over the past four months, accelerating its slide as of late. The stock is now trading well below the 50-day moving average.
Options traders are betting the stock may be at a short-term bottom. The October $9.00 call was purchased 7,200 times on open interest of 866 contracts, the October $8.00 call was purchased 1,500 times on open interest of 883 contracts, and the January 2011 $9.00 call was purchased 3,800 times on open interest of 3,452 contracts.
Call volume is now running at 3.40x the daily average.
CEMEX, S.A.B. de C.V. is a global cement manufacturer with operations in North America, Europe, South America, Central America, the Caribbean, Africa, the Middle East and Asia. The company is a holding company engaged through the operating subsidiaries in the production, distribution, marketing and sale of cement, ready-mix concrete, aggregates and clinker.
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