Basic Materials
Cliffs Natural Resources Inc (CLF) $18.30 -14.63%
Shares of Cliff Natural Resources are the largest loser among sp500 components today (try /mover @sp500) with shares down 14% on a downgrade by MS based on falling iron ore prices. Option volume is near a 1yr record with nearly 120,000 contracts trading (triple normal) and flow split evenly among calls and puts. Near term [...]
Huntsman Corporation (HUN) $18.80 +1.68%
Huntsman (HUN) adds 26 cents to $18.75 and 5000 Aug 20 calls bought on the chemicals company this morning for $1.05 per contract. 5,236 now traded against 1,377 in open interest. Yesterday saw opening activity in an Aug 14 – 18 bearish risk-reversal on the Salt Lake City, UT based company. 3,880 traded at $1.40 [...]
Eldorado Gold Corp Ltd (EGO) $9.57 -1.95%
Eldorado Gold (EGO) with a third day of high call volume. More than 47K Jul 10 calls traded on the stock yesterday and the activity created 26,657 in new open interest (see 3/22 color). OI in the strike is now 29,435 and the largest in EGO. Some are possibly being closed out today, as nearly [...]
Iamgold Corporation (IAG) $7.21 -0.35%
IamGold (IAG) is off 4 cents to $7.20 and a sweep of 4,000 May 8 calls trades on the Toronto-based miner for 25 cents per contract. A customer bought, to open, according to ISEE data. The stock notched 52-week highs of $16.44 in early-October before falling 64.2 percent and to 52-week lows of $6.04 just [...]
Eldorado Gold Corp Ltd (EGO) $9.79 +1.31%
Eldorado Gold (EGO) with a second day of bullish order flow. Yesterday’ activiity created 5,440 contracts of new open interest in calls on the stock. Apr 10 calls were the most active (see 3/21 color). The stock is up 4 cents to $9.70 today and the focus has shifted to Jul 10 call options on [...]
Eldorado Gold Corp Ltd (EGO) $9.72 +2.75%
Eldorado Gold (EGO) is up 28 cents to $9.74 amid relative strength in the miners today (XAU up 3.41 to 137.90) after gold gained $6.5 to $1614. Meanwhile, options volume in EGO is 2.5X the daily average. 5,850 calls and 225 puts traded on the Vancouver-based miner so far. Largest trade is a sweep of [...]
FMC Corp (FMC) $58.53 -1.06%
Agricultural chemical company FMC Corp is seeing heavy early call volume, with a buyer of 1000 April 60 calls for 60c 7mins into the day when shares were near their lows of the day. April 60s are the largest open interest position in the name, and today’s flow looks to add to the existing 3420 [...]
Bottom-Fish, in Cliffs (CLF)?
Cliff Natural Resources (CLF), which lost 6.6 percent and fell to new 52-week lows yesterday on cautious analyst commentary, sees a modest spike on increasing volume Wednesday morning. CLF is 20 cents to $20.53 on volume of 2.8 million shares. 11,000 calls and 4,500 puts traded in the Cleveland, OH iron ore company. Weekly 21.5 [...]
Silver Standard Resources Inc (SSRI) $10.60 +2.71%
20,000 calls and 1,000 puts traded in Silver Standard Resources (SSRI). The stock is up 30 cents to $10.62 in relatively active trading of 980,000 shares and much of the flow is concentraded in June 10 call options. More than 17,000 contracts traded against 766 in open interest. Most of the flow has been in [...]
Peabody Energy Corporation (BTU) $22.62 +3.59%
Peabody Energy (BTU) is up 59 cents to $22.43 and options order flow on the coal producer is bullish today, with 6480 calls and 1,600 puts traded on the ticker so far. April 23, 24, and 25 calls are the most actives. Nomura upgraded the stock to Neutral this morning today and also note that [...]
