| Another huge bullish bet on Cliffs | |
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Traders are making huge bullish bets on Cliffs Natural Resources for the second time in less than a month.
optionMONSTER's Heat Seeker system shows that 20,000 July 6 calls were bought for the ask price of $0.34 in one print this morning. This is clearly a new position, as open interest in the strike was just 1,164 contracts before the trade occurred.
These long calls lock in the price where the stock can be purchased through mid-July no matter how far it might climb. They could be sold earlier at a profit if premiums rise with a rally before then, providing potentially significant leverage, but the contracts will expire worthless if shares remain below $6. (See our Education section)
This follows the purchase last month of 17,000 May 6 calls and 19,000 Weekly 5 calls that expired last Friday. The stock closed at $4.58 on the day of those trades, March 18, after hitting its lowest intraday price since 2003 earlier in that session.
CLF has risen modestly since then but is down 2.26 percent today to $4.76. The mining company and natural-resources company, which provides iron-ore and metallurgical coal for the production of steel, has been hammered for years but has recently drawn upside interest with economic stimulus in Europe and China.
It is scheduled to announce quarterly results on April 28.
Total option volume in the name already tops 33,700 contracts today, triple its full-session average for the last month. Overall calls are outpacing puts by a bullish 6-to-1 ratio.
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CLIFFS Natural Resources
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PRODUCTEUR |
CODE : CLF |
ISIN : US18683K1016 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
CLIFFS Natural Res est une société de production minière de fer basée aux Etats-Unis D'Amerique. CLIFFS Natural Res est productrice de fer, de charbon au Bresil, au Canada et en Australie, et détient divers projets d'exploration au Canada. Ses principaux projets en production sont WABUSH MINE, EMPIRE AND TILDEN MINES, HIBBING TACONITE, NORTHSHORE MINE, UNITED TACONITE, OAK GROVE MINE, GREEN RIDGE MINE et PINNACLE MINE au Canada, AUSTRALIAN IRON ORE et SONOMA en Australie et AMAPA au Bresil et ses principaux projets en exploration sont MT JACKSON J1 en Australie et DIAGNOS, WAWA, FREEWEST, MC FAULD'S LAKE, MACFADYEN, WAWA CLAIMS et BIG DADDY au Canada. CLIFFS Natural Res est cotée aux Etats-Unis D'Amerique, en Allemagne et en France. Sa capitalisation boursière aujourd'hui est 3,3 milliards US$ (3,0 milliards €). La valeur de son action a atteint son plus haut niveau récent le 16 mai 2008 à 99,17 US$, et son plus bas niveau récent le 15 janvier 2016 à 1,20 US$. CLIFFS Natural Res possède 297 400 968 actions en circulation. |