Barrick Gold (ABX) loses $1.49 to $46.15 and is now down 17.5 percent from the 52-week high of $55.95 set intraday on Sep 8. Like other names in the sector, shares have been falling under the weight of lower gold prices. The yellow metal is down $36.6 to $1614 an ounce today and now $300 below the levels of more than $1900 seen earlier this month. Order flow in ABX is interesting today, as 36,000 calls and 9,275 puts traded on the miner so far. Top trades include an 8568 contract block of Jan 60 calls at 90 cents. The market is now 78 to 80 cents and 12,654 have changed hands. It might be closing activity, as the contract is 30 percent OTM and has 34,374 in open interest, which is the second largest position in ABX behind Jan 35 calls. Jan13 $70 calls and Jan13 $45 puts are the next most actives. Oct 42, 48 and 50 calls on Barrick are seeing some interest. April 48, Jan 40 and Jan13 47 calls are actively traded as well. Implied volatility is up 3 percent to 46, as players appear to be adjusting and closing position in the options on the stock after the volatile move lower over the past few weeks.

*Scanning all single-stocks subject to 2500 contracts minimum call or put volume

First Solar (FSLR) is under pressure today after Cantor reiterated a Sell rating and cut EPS numbers on the stock. Shares are down $6.57 to $65.70 and recent options trades in First Solar include an Oct 50 – 60 put spread, bought at $2.37, 4600X. It’s traded more than once today, as volume in both contracts now exceeds 10.5K. Looks opening. Dec 55 – 70 put spread was apparently bought at $680, 1000X as well. 40K puts and 14K calls traded and bearish action in FLSR has implied volatility up 15 percent to 88.

*Scanning all single-stocks subject to 2500 contracts minimum call or put volume

Interoil (IOC) is under pressure for a second day and is down $6.29 to $39.53. IOC is on a two-day 28 percent losing skid and falling to new 52-week lows today on reports the Papau New Guinea government wants the company to revise plans for an LNG project there (Reuters – link). Options on the Australian oil and gas refiner are actively traded as well. 8,630 puts and 6,650 calls traded in IOC so far today. Jan 22.5 puts, which are now 43.1 percent OTM, are the most actives. 942 traded (79 percent Ask) against 85 in open interest. Oct 30 puts, Oct 35 puts, Oct 40 calls, Jan 70 calls are seeing interest. Meanwhile, implied volatility in IOC is up another 30 percent to new highs around 130, up about 50 percent since Monday.

Sandisk (SNDK) is off 51 cents to $42.72 and an Oct 37 – 40 put spread is bought on the stock at 70 cents, 6500X. Open interest is sufficient to cover, but this might be a new position as today represents the most one-day volume for both contracts. More than 7,000 traded in both. A shareholder might have initiated the trade to protect recent gains in the stock. Shares have rallied 32.1 percent off a 52-week low of $32.34 set intraday on 8/23. Earnings expected around 10/20, possibly before the expiration.