The most traded options on USG so far today are the 16May’14 $30 strike calls, with around 2,800 contracts in play against open interest of 301 positions. It looks like most of these in-the-money calls were purchased in the early going at an average premium of $2.98 each. The calls may be profitable at expiration in the event that USG shares rally 3.5% over the current price of $31.87 to exceed the breakeven price of $32.98. The stock closed out Tuesday’s session at $32.98. USG Corp. is scheduled to report first-quarter earnings on April 24th.
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