Houghton and Atkeson

The Best Only Get Better -- Weyerhaeuser (WY)

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Over the weekend, Barron's looked at the 10 cheapest and 10 most expensive stocks in the S&P 500 (SPX), excluding REITs. Weyerhaeuser (WY) made the 10 most expensive list.

During the past week, the stock become about 10% more expensive, as it moved up from $50 to $55 per share. Part of the reason is associated with International Paper's (IP) better-than-expected report, which has launched IP like a rocket since the earnings release yesterday.

WY is scheduled to report before the market open on Aug. 5. Yesterday and today, we have been watching unusual trading volume in the WY Sept 55 (WYIK) and 60 (WYIL) Calls. Trading volume is now nine times usual today, with the heaviest buying in the WY Aug 55 (WYHK) and WY Oct 60 Calls (WYJL).

This may be just a reaction to better-than-expected earnings by a competitor or due to anticipation of non-earnings-related news flow in the near term.

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