OptionsHouse

Options Trading News

October 15, 2013  Tue 9:40 AM CT

CX: SEE CHART GET CHAIN FIND STRATEGIES
Cemex has been pulling back in the last month, but one trader apparently believes that the slide is ending for the Mexican cement maker.

More than 3,100 November 9 puts were sold in less than 3 minutes this morning for $0.07 and $0.06, according to optionMONSTER's tracking systems. The volume was above the strike's open interest of 2,270 contracts, indicating that this is new activity.

This put selling is looking for CX to stay above $9 through expiration in mid-November. The trader will be on the hook to buy shares if they fall below that strike price. (See our Education section)

CX is off 0.65 percent to $10.74 this morning as it tries to hold support at current levels. The stock spiked above $20 in mid-September but had been trending lower since, breaking below its 200-day moving average a week ago.

The company is scheduled to report third-quarter results on Oct. 24.
Share this article with your friends


Related Stories

CX

Calls bet on solid gains in Cemex

July 6, 2015

The Mexico-based cement maker has lost about 25 percent of its value since last Thanksgiving but has been range-bound this year.

Invest Like a Monster - San Antonio: October 9-10

Premium Services

Archived Webinar

Education & Strategy

Options Academy: At the Break

So far, my articles have taken you through a logical progression of option theory and fundamental concepts of options. As of yet, I have not mentioned a single strategy and for a good reason! The actual application of a strategy should come AFTER you learn about the option product itself.

View more education articles »