2352 CMC July 17 calls already traded (84% at the ask) vs. open interest of only 502, or 4x open interest. Premiums are up 40% over yesterday's close, or 81 cents. July 18 calls are also active, with 738 contracts traded vs. open interest of only 368, or 2x open interest. Premiums are up 30% cents, or 45 cents. Overall today, call to put ratio is a very bullish 25:1, with over 11,000 calls traded vs. 446 puts. The market is pricing in a 13% rise in CMC share price by July 16. Pete likes this one.
This doesn't hurt either: CMC theflyonthewall.com: Commercial Metals strength attributed to a positive mention at UBS UBS mentioned Commercial Metals positively and said it was a potential takeover candidate