Smithfield Receives Bull Trade
Symbols: SFD
Pork processor and hog producer, Smithfield Foods (NYSE: SFD), is jumping higher this morning by over 2.70%, currently trading $18.95. The company recently announced better than expected earnings results, but the stock slowly sold off. It appears that traders are attempting to get back in now; options traders are in pursuit as well.
Smithfield Foods’ April $20 calls have been purchased all morning long on the offer; currently volume is around 13,000 contracts, vastly surpassing the 5,000 contract open interest. The stock is currently trading above its 50 and 200 moving day averages; that, along with many other technicals, is spinning a bullish thesis on the stock.
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