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At least one investor is betting that Eldorado Gold will continue its recent climb.
optionMONSTER's Heat Seeker system shows that 2,000 October 2.50 calls were sold for $1.65 and 2,000 November 3 calls were bought for $1.25 on Friday. Volume was below open interest in the lower strike, indicating that a long position was rolled forward.
The trader was closing the October contracts before they expired at the end of last week and opened a position one month later at a strike that is $0.50 higher. He or she collected profits from the expiring calls and is using some of the proceeds to position for more gains. Long calls lock in the price where investors can buy a stock, which lets them profit from a rally with limited capital. (See our Education section)
EGO fell 3.41 percent to $3.97 on Friday but has risen more than 31 percent in the last three months and is back to its last highs from mid-August. The mining company is scheduled to announce quarterly results on Oct. 30, three weeks before Friday's calls expire.
Total option volume in the name on Friday was more than double its daily average for the last month. Overall calls outnumbered puts by 95 to 1.
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VanEck Vectors Global Alternative Energy ETF
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PRODUCER |
CODE : ELD.TO |
ISIN : CA2849021035 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Eldorado Gold is a gold producing company based in Canada. Eldorado Gold produces gold, iron in Brazil, in China, in Mexico and in Turkey, develops gold and silver in China and in Greece, and holds various exploration projects in Brazil and in China. Its main assets in production are KISLADAG and EFEMÇUKURU in Turkey, LA TRINIDAD - ELDORADO in Mexico, TANJIANSHAN, JINFENG, JIANCHALING, WHITE MOUNTAIN and BEYINHAR in China and VILA NOVA in Brazil, its main assets in development are EASTERN DRAGON in China and PERAMA HILL in Greece and its main exploration properties are HEI-SHAN (SHANDONG) and ZHANGJIASHAN in China and TOCANTINZINHO in Brazil. Eldorado Gold is listed in Canada, in Germany and in United States of America. Its market capitalisation is 1.1 billions as of today (US$ 806.1 millions, € 736.5 millions). Its stock quote reached its lowest recent point on August 03, 2001 at 0.21, and its highest recent level on October 10, 2024 at 23.35. Eldorado Gold has 47 442 200 shares outstanding. |