Unusual Option Activity in American Vanguard Corp
American Vanguard Corp. (NYSE: AVD) is showing unusual option activity today, with call volume at more than 1,000% of average. The August 30 call has a volume of 2,636 contracts. The underlying common stock is trading at $26.10.
A spokesperson for American Vanguard told Benzinga there is no news to account for the option action, and he attributes it to the company's May 3 earnings announcement. William Kuser, the company's Investor Relation Manger, says American Vanguard has a strong initiative in the corn market which, should it come to fruition, could be positive for the company for years to come.
Feltl and Company initiated coverage on American Vanguard with a Strong Buy and $35.10 price target on May 1.
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