Pan American Silver Corp (PAAS) $21.45 -1.81%
Pan American Silver (PAAS) is off 66 cents to $21.20 and in the midst of a three-day 14.2 percent losing skid. The stock reacted negatively to news Monday that the company is buying rival Minefinders (MFN) for $1.5 billion. Options order flow in PAAS seems bullish today, however, as 7,025 calls and 1,490 puts traded in the name. The flow includes a multi-exchange sweep of 1947 Mar 21 calls at the $1.55 asking price. Looks like an investor bought to open, based on data from the ISE. 3,288 now traded against just 6 contracts in open interest. Mar 22 calls are seeing interest as well and implied volatility is moving up 8 percent to 45.5. Earnings expected mid-Feb.
Category: All Stocks, Basic Resources, Mid 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.
