Volume Spike Investor

There has been some unusual options activity in Cemex S.A.B. de C.V. (NYSE: CX) today over the last hour.  If you go out to the JANUARY 2009 options expiration contracts, you will see that some 25,000 contracts have traded in the JAN09 $40 CALLS.  It is very possible that these were some trade exits though as the open interest in that contract was 26,389 contracts before today.  Unfortunately there is no way of knowing that without speaking with the person or group that made either side of the trade.

25,000 contracts on a leveraged basis accounts for 2.5 million shares.  Cemex ADR’s trade just over 5 million shares in a normal trading day.

The open interest in the JANUARY 2010 CALLS with the $45.00 strike is actually up at over 50,000 contracts.  There have been no real activities in those contracts today.

Shares are down almost 3% today at $25.95 and its 52-week trading range is $20.86 to $41.36.

Jon C. Ogg
June 11, 2008