Calls Purchased on Vulcan Materials (VMC)

Shares of Vulcan Materials Company VMC are lower on the session by 2.70%, currently trading at $38.23. The stock has been moving largely lower over the past six month, trending lower below the 50-day and 200-day moving averages. Shares recently spiked above the 50-day on high volume, though. Options traders are buying calls on the name today. A short while ago the May 2011 $40.00 call was purchased 3,600 times, on the offer, on open interest of only 3,122 contracts. This signals new positioning on the name. Overall call volume is now running at 4.45x the daily average with 70% of all calls traded being purchases on the offer. Vulcan Materials Company is a producer of construction aggregates, primarily crushed stone, sand and gravel. The company is also a producer of asphalt mix and ready-mixed concrete and a producer of cement in Florida. Vulcan operates in three segments: aggregates, asphalt mix and concrete, and cement.