Busy week of call activity in Scorpio Tankers as the rally continues
Busy week of call activity in Scorpio Tankers as the rally continues. The stock up 6c to $2.31 and have added 22.9% on the week. In option action Thursday, Oct 4 calls trade for 10c per contract. 6.1K changed hands so far against 31 open interest. Jul 3, Oct 3, and Apr 2 calls are next most active. Total volume is 5X daily average at 8.3K calls and 180 puts. Bullish flow comes after 4.1K May 2 calls and 1.3K Jul 3 calls opened Wednesday. Higher call volume Tuesday created 8.2K OI in Apr 2 calls and 2.7K in Jul 2 calls. The stock has rallied sharply this week, but shareholders stinging from a nearly 25% YTD loss. Earnings expected late-April.