Heavy Call Buying in American Axle (AXL)

Shares of American Axle and Manufacturing Holdings AXL are on the rise today by 0.36%, currently trading $8.29. The stock has been depressed as of late, but options traders are coming for calls in the name hand over fist today. The June $9 call was purchased over 1,000 times on open interest of 287 contracts and then the $10 call was purchased nearly 6,000 times on open interest of only 412 contracts. This signals new, bullish positioning on each line. Call volume in the name is now running at 6.77x the daily average. American Axle & Manufacturing Holdings Inc. manufactures, engineers, designs and validates driveline and drivetrain systems and related components and chassis modules.