Calls Purchased on Commercial Metals Company (CMC)

Shares of Commercial Metals Company CMC are higher on the session by 3.51%, currently trading at $15.32. The stock has been moving largely higher over the past five months, rallying from a recent low near $12.00, and is currently trading above the 50-day and 200-day moving averages. Options traders are buying calls on the name today. A short while ago the January 2011 $16.00 call was purchased 8,000 times, on the offer, on open interest of only 522 contracts. This signals new positioning on the strike. Overall call volume is now running at 36.00x the daily average with 87% of all calls traded being purchases on the offer. Commercial Metals Company recycles, manufactures, fabricates and distributes steel and metal products and related materials and services through a network of locations throughout the United States and internationally. The company operates in five segments: Americas Recycling, Americas Mills, Americas Fabrication, International Mills and International Marketing and Distribution.