Cameco Corporation (CCJ) $31.63 -15.38%
Cameco (CCJ) gapped at the open and is off $6.42 to $30.96 on concerns about quake-related damage to Japanese nuclear reactors. A number of other names in the uranium space (DNN, UEC, USU, HBM, URRE) are also suffering steep losses on concerns about delays in new projects, shortages, and falling uranium prices. CCJ is reeling and options volume is 4X the average daily. Mar 33 and 38 calls, which are now well out-of-the-money, are the most actives. Mar 29 and 30 puts are seeing interest as well. Implied volatility surged 60 percent to 60.
Category: All Stocks, Basic Resources, Large Cap Stocks
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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.
