Jul. 23 at 8:37 PM
$CSX is on fire today, up 5.77% after smashing Q2 and raising its outlook
Momentum is strong and it’s not just a random spike, analysts are hiking targets too
Options action is wild
Saw a 15,000-contract July 24
$53 call block lifted at the ask on InsiderFinance, traders are paying for that immediate upside
But hold up, there’s also a 10,000-contract stack of August 21
$50 puts being bought
Some serious protection being put in place just 4 to 5% below current levels
Institutions might be capping risk beyond this week even as the stock rallies
Keep an eye on how this plays out