FMC (FMC) Calls Draw a Crowd
by Houghton and Atkeson 04/21/09
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FMC Corp. (FMC) is a chemical company based in Philadelphia. Its 10-day average option volume is less than 450 contracts. But today, roughly 7,000 contracts have traded, 17-times usual volume and greater than total open interest with 99% of the volume on the call side.
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The company is scheduled to report earnings May 5, which would be captured in the 4,470 FMC May 50 Calls (FMCEJ) and the 2,359 FMC May 55 Calls (FMCEK) that have traded. The stock is up 5% to $45.21.
Will earnings drive FMC higher or is there something bigger and better that will make these options money winners?
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