Bears are swamping Thompson Creek

By
A A A

Thompson Creek is retreating after a rally, and the bears want to drive it back into the dirt.

optionMONSTER's Depth Charge monitoring program detected the purchase of about 4,500 March 3 puts for $0.50. Volume was more than 20 times open interest at the strike, clearly indicating new activity.

The investor now has the right to sell shares in the small-cap miner for $3 in the next six months. That position will appreciate in value if the shares fall but will expire worthless if they don't.

TC fell 5.61 percent to $3.03 yesterday. It steadily declined from the start of 2011 through August, falling from above $14 to below $2.50. Shares then found support and rallied more than 50 percent, but they stalled around the middle of the month and have been falling since.

Overall option volume was 8 times greater than average in the name, with puts outnumbering calls by 8 to 1.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Copyright © 2010 OptionMonster® Holdings, Inc. All Rights Reserved.


This article appears in: Investing , Options

Referenced Stocks: TC

optionMONSTER

optionMONSTER

More from optionMONSTER:

Related Videos

DAVOS: The Key Takeaways
DAVOS: The Key Takeaways            

Stocks

Referenced

67%

Most Active by Volume

58,533,375
  • $73 ▲ 6.35%
53,956,517
  • $15.85 ▲ 0.76%
50,967,589
  • $113.10 ▲ 0.11%
41,034,638
  • $6.91 ▲ 8.82%
38,360,555
  • $24.59 ▲ 0.45%
37,152,082
  • $47.01 ▼ 0.36%
36,788,055
  • $3.66 ▲ 2.52%
33,469,381
  • $35.10 ▼ 0.54%
As of 1/26/2015, 04:06 PM


Find a Credit Card

Select a credit card product by:
Select an offer:
Search
Data Provided by BankRate.com