Yamana Gold (AUY) is up 56 cents to $9.43 as gold gained a whopping $70 to $959 an ounce Thursday. AUY options volume is running at twice the average daily, with 45,000 calls and 6,900 puts traded. The top trades include 9,500 March 8/April 9 call spreads for 30 cents, which is probably a roll from one month to the next ahead of this week’s options expiration.
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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.