Unusual Options Activity: Traders bet Crown Holdings, Inc. (CCK) Will Hold Recent Gains
Traders are betting Monday that Crown Holdings, Inc. (CCK) will hold its recent gains over the next month. The stock has appreciated 46% on the year to $60.84. So far today, 3,782 contracts of the August 60 call have changed hands, against open interest of just 89 contracts.
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About Crown Holdings Inc.
Crown Holdings is one of the world's largest producers of metal packaging. The company manufactures beverage cans, metal food cans, and closures, as well as aerosol cans. With the purchase of Signode, the company also has a presence in a wide variety of protective transport packaging. Although it's headquartered in the United States, the vast majority of Crown's sales come from its operations in Europe, South America, and Southeast Asia.