Notable Call Options Activity in Gerdau

Shares of Gerdau

are lower on the session by 0.16%, currently trading at $9.63. The stock has been moving largely higher over the past two months and is currently trading above the 50-day moving average. Options traders are focusing on calls today. The strike seeing the heaviest volume is the January 2013 $10 call, which has traded 1,000 times on open interest of 5,531 contracts. The Jan2013 $15 and $17.50 calls also traded 1,000 times each. Gerdau S.A. is a producer of long rolled steel. Gerdau operates steel mills that produce steel by direct iron-ore reduction in blast furnaces and in electric arc furnaces.