Calls Active on U.S. Steel Corp. (X)

Shares of U.S. Steel Corp.

are popping higher this morning on renewed takeover speculation; currently, shares are up by 1.07%, trading at $55.61. The name has been tossed around as a takeout cnadiate for the past 3-4 months, pushing shares above the 200-day moving average. With U.S. Steel Corp. now consolidated firmly above that levels, shares seemed primed to go higher even without a takeover. With that said, call volume is running curiously high this morning, with over 17,000 calls trading versus only 1,000 puts. That is roughly half the daily average call volume within the first twenty minutes of trading. The heaviest action is coming in the front month on the $50.00, $60.00, and $62.50 strikes. United States Steel Corporation is an integrated steel producer of flat-rolled and tubular products with major production operations in North America and Europe. U. S. Steel has annual raw steel production capability of 31.7 million net tons (tons) (24.3 million tons in North America and 7.4 million tons in Europe).