Calls Bought on CSX, Despite Downgrade (CSX)

Shares of CSX Corporation CSX are higher on the session by 3.02%, currently trading at $56.03. The stock has been moving largely sideways for the past six months, in a channel, with $47.50 being support and $55.00 being support. CSX was cut to Hold, from Buy at BB&T Capital Markets this morning. Options traders are coming after call options regardless. A short while ago the October $60 call was purchased 7,160 times, on the offer, for $0.28. The October $57.50 and November $57.50 call also saw call buying on the offer. Call volume is running at 2.37x the daily average. CSX Corporation is a transportation company. The company's rail and intermodal businesses provide rail-based transportation services including traditional rail service and the transport of intermodal containers and trailers. CSX's principal operating company, CSX Transportation, Inc., provides an important link to the transportation supply chain through its approximately 21,000 route mile rail network, which serves major population centers in 23 states east of the Mississippi River, the District of Columbia, and the Canadian provinces of Ontario and Quebec.