Alpha Natural Resources (ANR) is up 77 cents to $9.06 in active trading of more than 15 million shares on reports Berth1 at Westshore Terminals has been destroyed. A bulk carrier, Cape Apricot, collided with the a conveyer system that moves coal from the terminal Friday (LINK TO STORY). ANR is rallying, as is WLT, and options on the coal producer are seeing another day of brisk trading. 27,000 calls and 10,000 puts so far. December 8 calls, Weekly 8.5 calls, December 7 calls and December 9 calls, all of which are in-the-money, are the most actives. ANR saw similar action last Wednesday (see 12/5 color), led by increasing interest in Weekly and December 8 calls. Shares are up about $1, or 12.4 percent, since that time.
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.