Is the Options Market Predicting a Spike in Trex (TREX) Stock?

Group 1 - The stock of Trex Company, Inc. (TREX) is experiencing significant attention due to high implied volatility in the options market, particularly for the Jul 19, 2024 $45.00 Call option [1][3] - High implied volatility indicates that traders expect a substantial price movement in Trex shares, potentially due to an upcoming event that could lead to a significant rally or sell-off [4][5] - Trex currently holds a Zacks Rank 3 (Hold) in the Building Products - Wood industry, which is positioned in the bottom 38% of the Zacks Industry Rank [5] Group 2 - Over the past 60 days, five analysts have raised their earnings estimates for Trex for the current quarter, while one analyst has lowered their estimate, resulting in a consensus estimate increase from 74 cents to 79 cents per share [5]