Today we saw a trader buy over 8,000 CENX October 11 Calls for $.30. Since the stock market looks so weak today, I did not buy these Calls.
This is the power of Insider Buyer in the options market. This gives the trader the right but not obligation to buy almost 800,000 shares of CENX between now and October expiration and for this right they paid $.30 per 1 lot or almost $250,000 total.
This is a big Insider Buyer of CENX Calls. The right but not obligation to buy 800,000 shares might not seem like a big order, but that stock has only traded about 2,100,000 shares of stock today. This stock moves about $.65 per day 1/3 of all days, so I think this stock could trade up to $12 by October expiration.