Big Call Buyers in SCCOSouthern Copper Corporation (SCCO) is a company that produces copper, zinc, and silver. The company’s stock is currently trading around $32.45 in a 52 week range of $24.50-$40.48. The stock has greatly underperformed the market over the past year with share prices falling over 19% in the past 12 months. In recent months however, the stock has been relatively strong with shares gaining nearly 20% in the past 3 months. Options activity in SCCO during today’s trading session suggests that this recent trend could continue. Earlier in the session a trader bought 9,750 SCCO Sep 37 Calls for $0.95. This trade also represents volume over 7.7 times the average daily option volume in SCCO. We believe that this order flow in SCCO justifies a long position in SCCO.
