Seeing increasing call buying in Yamana Gold (AUY, news, chart). Shares are trading up 8 cents to $14.28 and 11,000 AUY calls have traded, compared to just 229 puts. Most of the action is in the October 15 and October 16 calls, where more than 99 percent of today’s trading is hitting on the offer side. Directional sentiment based on today’s total order flow is 78 percent bullish. Nothing on the wires. Gold is up $4.00 to $891 an ounce.
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Frederic Ruffy is a well-known trader, writer, and strategist who has spent years educating investors and creating intelligent, insightful, unbiased market observations that are frequently cited by the Wall Street Journal and other financial publications. As senior analyst, Fred provides frequent and regular notes and daily updates for activity of interest.