A large sweep of Yamana Gold puts just took place, with a buyer paying 70cents for 10,000 April 8 puts, to open, across multiple exchanges. Shares are up nearly 9% to $9.10, helped by spot gold up $33, and the put buyer may attracted by recent contraction of implied volatility in the name and strength in shares that have more than doubled since November.
About the Author (Author Profile)
Henry Schwartz is the president of Trade Alert LLC, a provider of real-time options analysis tools to leading Wall Street firms. His systems analyze hundreds of thousands of transactions per second to help professionals identify and interpret market activity in real time, supporting informed trading decisions and intelligent idea generation. He has held institutional trading and management roles with Bank of America, Bear Stearns, Salomon Brothers and the Hull Group, and made markets on the CBOE and AMEX floors in the US, and EUREX and MONEP overseas. Prior to founding Trade Alert, he led the electronic market-making group at Bank of America coincident with the launch of the International Securities Exchange. He received his bachelor’s degree in Economics from the University of California, San Diego and his MBA from NYU’s Stern School of Business.