Pan American Silver (PAAS) touched a new 52-week high and is up $3.53 to $42.87 after silver topped $40 an ounce. Silver (May) was recently up 93 cents to $40.45. Meanwhile, bullish traders surfaced in PAAS options. 13,000 calls and 3,030 puts have traded in the Vancouver-based miner. July 55 calls, which are 28.3 percent out-of-the-money and have a delta of .18, are the most actives. 3,250 traded. Apr 40, Apr 42, Apr 43 and Jul 50 calls are seeing interest as well. The company is hosting an Analyst Day today. Earnings were last reported on 2/15. Shares are up 11.1 percent since that time.
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.