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Stillwater Mining has surged its highest level in more than three months, and traders are looking for more gains in the next week.
More than 4,500 October 12 calls were purchased for $0.25 to $0.37 yesterday, according to optionMONSTER's Heat Seeker tracking program. This represents fresh buying, as open interest in the strike was only 458 contracts before the session began.
These long calls lock in the price where the stock can be purchased, gaining with a rally and providing leverage to the underlying shares. But the contracts will quickly lose value if the stock stalls or pulls back by expiration a week from today. (See our Education section)
SWC rose 4.69 percent to $11.82 yesterday, its best close since June 26. The platinum producer is still down some 23 percent on the year but has been ripping higher for nearly three weeks since holding support near the $8 level.
The stock is the largest holding in the SPDR S&P Metals & Mining Fund, which also saw heavy call buying earlier in the session.
Yesterday's overall call volume in SWC was more than 7 times its daily average for the last month. Calls made up a bullish 97 percent of that total.
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Stillwater Mining Co
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PRODUCTEUR |
CODE : SWC |
ISIN : US86074Q1022 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Stillwater Mining est une société de production minière de cuivre et de nickel basée aux Etats-Unis D'Amerique. Stillwater Mining est productrice de cuivre, de nickel, de palladium, de pgm et de platine en USA, et détient divers projets d'exploration au Canada. Ses principaux projets en production sont EAST BOULDER MINE, STILLWATER MINE et EAST BOULDER en USA et son principal projet en exploration est SIM LAKE au Canada. Stillwater Mining est cotée aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 2,2 milliards US$ (2,0 milliards €). La valeur de son action a atteint son plus bas niveau récent le 21 novembre 2008 à 1,76 US$, et son plus haut niveau récent le 03 mai 2017 à 18,00 US$. Stillwater Mining possède 121 080 187 actions en circulation. |