Relative strength in Molycorp (MCP) is being attributed to M&A speculation — Briefing. Shares are up $3.52 to $57.35 and running to sessions highs. 24,000 calls and 14,000 puts traded on the Greenwood Village, CO metals and minerals company. Weekly (9/2) 55, 57.5 and 60 calls are the most actives. Speculators are also focused on the Sep 60 and 65 calls. Sep 48 and Jan 35s are the most active puts. Implied vols are up about 5.5 percent to 71.
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.