USCR Pops on Heels of Acquisition Agreement

USCR already boasts a 2021 lead of 84%

Deputy Editor
Jun 7, 2021 at 10:15 AM
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This morning, construction name US Concrete Inc (NASDAQ:USCR) agreed to be bought by Vulcan Materials (VMC) for $74 per share in cash, a move that was unanimously approved by the boards of directors of both companies. That's a nearly 30% premium to USCR's Friday closing price of $57.14, and a receipt that totals around $1.29 billion. In response, US Concrete stock is flying up the chart, last seen 27.8% higher to trade at $73.01.

After a month of closing beneath the $60 mark, with added pressure from the 80-day moving average, today's positive price action has the security roaring back toward its March 31, three-year high of $78.99. Already up a stellar 173% year-over-year coming into today, USCR is adding big numbers to its 84% 2021 lead.

A shift in the options pits could propel the equity higher. This is per U.S. Concrete stock's 50-day put/call volume ratio at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), which sits in the 91st percentile of its annual range. This suggests long puts are being picked up at a faster-than-usual pace. 

Now seems like a good opportunity to weigh in on USCR's next move with options. The equity's Schaeffer's Volatility Index (SVI) of 47% sits higher than just 1% of all other readings in its annual range, suggesting options players are pricing in extremely low volatility expectations at the moment -- a boon for premium buyers.

 

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