EXP – Eagle Materials Inc. – Investors are scooping up call options on the manufacturer of gypsum wallboard and cement ahead of the firm’s second-quarter earnings report scheduled for release ahead of the opening bell on Thursday. Eagle Materials’ shares rallied 2.00% during afternoon trading to $26.59, but earlier increased as much as 4.4% to secure an intraday high of $27.21. Options players expecting the cement maker’s shares to continue to appreciate ahead of August expiration purchased approximately 2,000 calls at the August $30 strike for an average premium of $0.20 per contract. Call buyers are prepared to make money as long as the price of the underlying stock surges 13.6% to trade above the effective breakeven price of $30.20 by expiration day next month.
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