Puts Active on Gerdau
Shares of Gerdau (NYSE: GGB) are trading lower on the session by 1.17%, at $7.12. The stock has been moving largely lower over the past five weeks and is currently trading below the 50-day moving average.
Puts are active on the name today. The strike seeing the most volume is the March 2012 $7.00 put, where 3,000 contracts have traded on open interest of 5 contracts.
Puts are outpacing calls today by 90 to 1.
Gerdau S.A. engages in the production and sale of steel products in Brazil and internationally. The company offers crude steel products, which include billets that are used to manufacture wire rods, rebars, and merchant bars; blooms for use in the manufacture of springs, forged parts, heavy structural shapes, and seamless tubes; and slabs, which are used in the steel industry for the rolling of various flat rolled products, as well as to produce hot and cold rolled coils, heavy slabs, and profiles.
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