Yamana Gold (AUY) is down 58 cents to $9.72 on a tough day for the miners after gold (August) tumbled $38.10 to $1207.80 an ounce. The PHLX Gold and Silver Mining Index (XAU) is down 9.75 to 167.88. Meanwhile, AUY call volume is reaching 30,000 contracts. The top trades look like a roll of a bullish position in 10K July 11 calls, which traded at 6 cents, to 5000 Oct 10 calls at 90 cents.
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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.