Calls on Yamana Gold (AUY, news, chart, volatility) have been actively traded in recent weeks and the trend continued Friday. 28,000 calls and 5,680 puts traded. The top trade of the day was a block of 10,000 April 9 calls hitting bidside for 75 cents and appears to be an opening call write, as open interest rose by 10,930 contracts. It could be a move to capture high implied volatility (108 percent), and or selling calls against shares. AUY closed at $6.13 Friday.
About the Author (Author Profile)
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.