Calls Purchased on Louisiana-Pacific Corp. (LPX)

Shares of Louisiana-Pacific Corporation LPX are higher on the session by 1.33%, currently trading at $7.63. The stock has been moving largely sideways for the past four months after sliding lower throughout May. Options traders are buying calls on LPX today, betting that it can rally off of these levels. Earlier in the session, the November $9.00 call was purchased 10,000 times, on the offer, on open interest of 17,450 contracts. Call volume is now running at 6.18x the daily average with 97% of all calls traded being purchases on the offer. Louisiana-Pacific Corporation is principally engaged in the manufacturing of building products. The company operates in three segments: Oriented Strand Board, Siding, and Engineered Wood Products. For more great research like this, as well as how to play it through options…please visit Benzinga's Options & Volatility Edge and Benzinga's Cash Generator.