Friday, December 04, 2009 11:36:21 PM
SALT LAKE CITY (TheStreet) -- Huntsman(HUN Quote) has been charging straight up for the last month and the bulls are still feeling positive chemistry.
OptionMonster's real-time tracking systems detected the purchase of about 16,000 December 10 calls Thursday against open interest of only 2,021 contracts. Early in the session, premiums rose from 25 cents to 70 cents despite the chemical company's stock climbing only 42 cents at the same time, which reflects a powerful buying pattern.
HUN rose 3.43% to $10.26 Thursday and traded as high as $10.86. The buying comes a day after a presentation at the Bank of America/Merrill Lynch Credit Conference. While no major headlines emerged from the event, management may have provided investors with confidence about the company's ability to service its heavy debt load. Takeover rumors were circulating on the name as well.
Huntsman also presented earlier this week at the Citigroup Basic Materials Conference. Huntsman chemicals are used in diverse applications including adhesives, building supplies, packaging, electronics, and paints.
The shares have been ripping higher since Nov. 4, when the company reported a big loss but forecast strength in the current quarter. Thursday's price action may represent a breakout above the $9.85 level that's been serving as resistance.
Other investors sold the January 12 calls for 55 cents, probably against positions in the shares. Some 5,223 contracts traded against no open interest. There were also buyers of the January 11 calls and sellers of the December 12.50 calls.
Recent HUN News
- Huntsman Publishes 2023 Sustainability Report • PR Newswire (US) • 05/21/2024 04:39:00 PM
- Huntsman Announces Second Quarter 2024 Common Dividend • PR Newswire (US) • 05/09/2024 08:00:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/07/2024 08:59:27 PM
- Huntsman Announces First Quarter 2024 Earnings • PR Newswire (US) • 05/02/2024 08:14:00 PM
- Huntsman Scholarship Program Awards 19 Spring ISD Students • PR Newswire (US) • 04/25/2024 05:30:00 PM
- Huntsman To Donate $500,000 Over Next Five Years to Montgomery County Food Bank to Help Feed Additional 5,000 Households Per Month • PR Newswire (US) • 04/03/2024 03:30:00 PM
- Huntsman to Discuss First Quarter 2024 Results on May 3, 2024 • PR Newswire (US) • 04/01/2024 11:38:00 PM
- Huntsman Announces Fourth Quarter 2023 Earnings • PR Newswire (US) • 02/21/2024 09:45:00 PM
- Huntsman Announces 5% Increase in First Quarter 2024 Common Dividend and 2024 Annual Meeting of Stockholders • PR Newswire (US) • 02/21/2024 09:44:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/21/2024 09:30:31 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/20/2024 09:35:23 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/20/2024 09:34:25 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/20/2024 09:33:22 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/20/2024 09:33:03 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/20/2024 09:32:11 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/20/2024 09:31:32 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/20/2024 09:30:48 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/20/2024 09:29:37 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/20/2024 09:28:43 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/20/2024 09:27:56 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/20/2024 09:27:17 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/20/2024 09:25:32 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/20/2024 09:25:01 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/20/2024 09:23:50 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/20/2024 09:22:46 PM
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