Peabody Energy (BTU) is outperforming, up 94 cents to $25.98, on news of a joint venture in Mongolia with Polo Resources. Peabody will invest up to $25.8 million to take a 50 percent interest in the joint venture, called Peabody-Polo Resources. Sentiment in the options market is less bullish, however, with 5,624 April 22.5 puts traded, compared to open interest of 2,842. Trades include two blocks (1,903 on ISE and 1,338 on CBOE) at the offer for 65 cents. ISE sentiment data confirms opening customer put buy.