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

Stocks

Referenced

67%

Most Active by Volume

105,858,039
  • $10.50 ▲ 3.04%
105,433,684
  • $29.22 ▲ 4.62%
72,716,790
  • $16.36 ▼ 0.49%
51,381,067
  • $113.29 ▲ 0.33%
47,443,661
  • $2.39 ▲ 4.82%
45,387,229
  • $5.78 ▲ 0.87%
45,001,566
  • $105.62 ▼ 0.02%
42,379,286
  • $28.42 ▲ 2.53%
As of 8/28/2015, 04:15 PM

Find a Credit Card

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