This morning 5,000 June 16 ’23 calls in Ferroglobe PLC (Symbol: GSM). The open interest at the time of the trade in the call was 866 so this was an opening trade. The GSM June 16 -23 calls are a 43 delta, and the trade is the equivalent of 215,000 shares of stock.
GSM currently trades at $4.83 so the buyer is taking a bullish position that the stock will trade above $5.00 by the June 16th expiration. GSM has a 52-week high of $8.12 and a 52-week low of $3.64.
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