Could Braskem SA (ADR) See a Reversal After Today’s Strong Options Activity?

 Could Braskem SA (ADR) See a Reversal After Today's Strong Options Activity?

In today’s session Braskem SA (ADR) (BAK) registered an unusually high (302) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the November, 2016 call, expecting serious BAK increase. With 302 contracts traded and 3134 open interest for the Nov, 16 contract, it seems this is a quite bullish bet. The option with symbol: BAK161118C00017500 closed last at: $0.9 or 40% down. About 127,802 shares traded hands. Braskem SA (ADR) (NYSE:BAK) has risen 36.00% since March 28, 2016 and is uptrending. It has outperformed by 31.29% the S&P500.

Analysts await Braskem SA (ADR) (NYSE:BAK) to report earnings on November, 3.

Braskem SA (ADR) (NYSE:BAK) Ratings Coverage

Out of 3 analysts covering Braskem SA (NYSE:BAK), 3 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Braskem SA has been the topic of 4 analyst reports since September 21, 2015 according to StockzIntelligence Inc. On Tuesday, October 11 the stock rating was initiated by HSBC with “Buy”. The rating was upgraded by Bank of America on Tuesday, May 24 to “Buy”.

According to Zacks Investment Research, “Braskem SA figures as the largest petrochemical operation in Latin America and among the five largest private companies in Brazil. With industrial facilities located in Alagoas, Bahia, São Paulo and Rio Grande do Sul, Braskem produces primary base petrochemicals such as ethylene, propylene, benzene, caprolactam, DMT and termoplastic resins (polypropylene, polyethylene, PVC and PET) gas and GLP.”

Braskem S.A. produces thermoplastic resins. The company has a market cap of $6.37 billion. The Company’s divisions are Basic petrochemicals, Polyolefins, Vinyls, the United States and Europe, and Chemical distribution. It has a 7.36 P/E ratio. It is also engaged in the import and export of chemicals, petrochemicals and fuels, the production, supply and sale of utilities such as steam, water, compressed air, industrial gases, the provision of industrial services, and the production, supply and sale of electric energy.

BAK Company Profile

Braskem S.A. (Braskem), incorporated on January 12, 1972, produces thermoplastic resins. The Company’s divisions are Basic petrochemicals, Polyolefins, Vinyls, the United States and Europe, and Chemical distribution. Braskem is also engaged in the import and export of chemicals, petrochemicals and fuels, the production, supply and sale of utilities such as steam, water, compressed air, industrial gases, as well as the provision of industrial services and the production, supply and sale of electric energy for its own use and use by other companies. Braskem also invests in other companies, either as a partner or as shareholder. It operates over 40 industrial units, over 30 of which are located in the Brazilian states of Alagoas (AL), Bahia (BA), Rio de Janeiro (RJ), Rio Grande do Sul (RS) and Sao Paulo (SP); over five are located in the United States, in the states of Pennsylvania, Texas and West Virginia, and over two are located in Germany, in the cities of Wesseling and Schkopau. These units produce thermoplastic resins-polyethylene (PE), polypropylene (PP) and polyvinyl chloride (PVC), as well as basic petrochemicals.

More important recent Braskem SA (ADR) (NYSE:BAK) news were published by: Quotes.Wsj.com which released: “DOW JONES, A NEWS CORP COMPANY” on February 11, 2011, also Thestreet.com published article titled: “Braskem SA Preferred Shares Sponsored ADR R Stock To Go Ex-dividend Tomorrow (BAK)”, Marketwatch.com published: “/quotes/zigman/3870025/realtime” on December 22, 2009. More interesting news about Braskem SA (ADR) (NYSE:BAK) was released by: Bidnessetc.com and their article: “Braskem SA (ADR) Of Brazil Sued In New York Court Over Petrobras Scandal” with publication date: July 02, 2015.

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