Long-term bull in Barrick Gold. With shares up 34 cents to $15, a 20000-lot of Jan2017 25 calls on the gold miner is bought-to-open for 76 cents, to open.
Noteworthy trade in Newmont Mining as 10620 Nov 28 calls on the gold miner are swept for 10 cents across multiple exchanges when the bid-ask was 7 to 10 cents. It’s opening and is perhaps being opened as a ‘cheap” play on the view the stock is oversold after losing another 19 cents to $23.65. [...]
Mittal Steel Dec 14 puts are drawing interest. Smaller lots printed for 70 and 71 cents before a 6567-block traded for 74 cents on CBOE when the market was 69 to 75 cents. It appers to repeat from Friday when a buyer apparently paid 57 cents for a 6400-lot of those same Dec 14-strike puts [...]
The woes continue for Alpha Natural Resources as shares of the coal producer drop another 10% to new lows of $2.59. Recent options trades on ANR include a sweep of 10747 Oct 2.5 puts across multiple exchanges for 14 cents when the bid-ask was 12 to 14 cents. 12,267 now traded vs. 1,296 in OI [...]
Rio Tinto Jan 45 puts are bought for 93 cents, 9000X. The stock is up 79 cents to $51.72 after dropping 14% since mid-August. Today’s put buying is expressing concerns that the rebound in RIO will be short-lived. More than 10,000 Jan 45 puts now traded against 2,635 in open interest. Bearish trading in the [...]
Put bomber hits Gold Fields Ltd this morning. Seller collected 20c on 14K Nov 4 puts to open a new position as shares traded near $4.14. Traded outright and will create the largest block of put open interest in the gold miner.
Bearish theme in the natural gas/coal producers continues. Peabody Energy is off another 45 cents to $12.84 and an investor bought a 9000-lot of Mar 11 puts on the stock. They also sold 1,088 Jan 13 puts and 3,381 Mar 13 puts. $43K was collected on the three-way and the activity probably rolls in-the-money 13-strike [...]
Additional flow in Freeport McMoran. While Weekly (9/26) 34 calls on the gold and copper company saw early buying interest, more recent trades included a 15840-lot of Nov 30 puts on FCX for 35 cents on ISE. An investor bought-to-open, according to ISEE data. More than 25,000 traded at that strike. Volume in the Weekly [...]
Ratio spread in VALE. With the stock down 61 cents to $11.39, an investor sells 5,000 Jan 13 puts on the metals and minerals company at $1.98 to buy 15,000 Jan 10 puts for 32 cents. The flow probably rolls a block of puts from in-the-money Jan 13s to a larger position in the out-of-the-money [...]
IAMGold Dec 2.5 puts are swept across multiple exchanges for 15 cents, 13660X. The bid-ask was 10 to 15 cents. 13,725 now traded against 10,638 in open interest. The market is 10 to 20 cents. With the stock down 18 cents to $3 and shareholder is possibly buying Dec 2.5 puts to hedge stock for [...]