Seabridge Gold (SA) adds 62 cents to $13 in active trading of 557K shares (average daily is 404K) and options volume on the miner is running 18X the daily average. 18,000 calls and 837 puts so far. The flow is concentrated in Jan 15 calls and, with the exception of 1,159 contracts for $1.65 when the market was $1.60 to $1.65, has been in smaller lots. 16,166 now traded against 338 in open interest and ISEE is consistent with a mix of buying and selling, opening and closing activity. It’s probably one of those newsletter recommendations to boost a beaten-down mining name. SA is down 44.6 percent since February.
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.