Waste Management (WM) may get a bid with an infrastructure package, and we note that the 120 strike is concentrating in size. The stock is currently at $115, and has held that level more or less since October. We think hedging around options positions may give it a boost up into $120.
You can see in our EquityHub model below that there are a lot of our key options metrics at $120 which may indicate hedging flows are tied to that strike.
