LyondellBasell Industries has been on a massive run, and the
bulls keep coming back for more.
optionMONSTER's Heat Seeker tracking system detected the purchase
of 9,900 May 43 calls for $1.30 and the sale of an equal number of
May 46 calls for $0.25, resulting in a net debit of $1.05.
This bullish call spread will earn a maximum profit of 186 percent
if the Dutch plastics maker closes at or above $46 on expiration.
LYB fell 3.9 percent to $42.83 yesterday. It emerged from
bankruptcy one year ago, edged lower into July, and then proceeded
to more than triple by earlier this week when earnings crushed
Chemical stocks have been one of the strongest sectors in the
market this year, and yesterday's spread in LYB was apparently a
momentum trade based on an expectation that the bullish trend will
Overall option volume in the stock was 4 times greater than average
in the session, with calls accounting for more than 80 percent of
the overall activity.