| Investor sees top in Agnico Eagle | |
| | |
|
A large investor is betting that Agnico Eagle Mines will rally but stay in within a range for most of this year.
optionMONSTER's tracking systems detected the sale of 2,000 November 34 calls for the bid price of $2.04 with almost no previous open interest in the strike. At the same time, 200,000 AEM shares bought in one block for $29.09.
This is a covered-call trade , with an investor selling the November contracts to collect the $2.04 premium while holding the stock. The trader apparently believes that upside potential will be limited for the next seven months, as he or she would face the obligation to sell shares if they rise above $34. (See our Education section)
AEM fell 4.9 percent to $29.09 yesterday, dropping with the price of gold. The Toronto-based miner rallied hard early this year but hit resistance at the $34.50 level and has since pulled back into an increasingly narrow range.
Yesterday's call sale pushed total option volume in the name to quadruple its daily average for the last month.
More From optionMONSTER
|
|
|
VanEck Vectors Global Alternative Energy ETF
|
|
PRODUCER |
|
CODE : AEM.TO |
|
ISIN : CA0084741085 |
|
|
| |
ProfileMarket
IndicatorsVALUE :
Projects & res.Press
releasesAnnual
reportRISK :
Asset profileContact Cpy |
Agnico Eagle Mines is a gold producing company based in Canada. Agnico Eagle Mines produces gold, copper, lead, silver and zinc in Canada, in Finland and in Mexico, develops copper, gold, lead, silver and zinc in Canada, and holds various exploration projects in Canada. Its main assets in production are LARONDE, LARONDE (EL COCO) MINE, MEADOWBANK and LARONDE EXTENSION in Canada, PINOS ALTOS in Mexico and KITTILA in Finland, its main assets in development are LAPA, GOLDEX and LARONDE in Canada and its main exploration properties are BOUSQUET MINE, JOUTEL, NIGHTHAWK, GERMAN PROPERTY, MOUNTJOY PROPERTY, THORNLOE, REID, NW DELORO, CARR - WILKIE, WHITNEY TISDALE, WARK, EASTER DOME, MELIADINE, ELLISON, BOUSQUET AND ELLISON, COLOMAC MINE, CABALLO BLANCO PROPERTY and VICTORY LAKE in Canada and MORELOS SUR in Mexico. Agnico Eagle Mines is listed in Canada, in Germany and in United States of America. Its market capitalisation is 5.2 billions as of today (US$ 3.7 billions, € 3.5 billions). Its stock quote reached its lowest recent point on October 29, 1999 at 10.10, and its highest recent level on November 14, 2024 at 109.24. Agnico Eagle Mines has 47 442 200 shares outstanding. |