Bulls mine for gold in Buenaventura

By optionMONSTER,  May 31, 2012, 05:37:50 AM EDT

Gold miners have been active recently, and yesterday Buenaventura drew upside trades.

optionMONSTER's Heat Seeker tracking program detected the purchase of about 2,000 June 42 calls for $0.20. Volume was more than 16 times open interest in the strike.

The calls stand to leverage a quick move in the Peruvian gold miner, which has been drifting in a range for more than two years. The stock peaked around $42 last month, so the trader could be looking for a move back to that level. (See our Education section)

BVN gained 0.89 percent to $38.37 yesterday. Investors have recently been targeting companies in the industry, such as Seabridge Gold and Ivanhoe Mines , after selling pressures swept the group between March and mid-May.

Overall option volume in BVN was 8 times greater than average yesterday, with calls outnumbering puts by 5 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.


This article appears in: Investing, Options

Referenced Stocks: BVN



Latest News Video

Woman Found Dying in Car on City's Northeast Side
Woman Found Dying in Car on City's ...
Buzz Aldrin: Time For People To Go To Mars
Buzz Aldrin: Time For People To Go ...
Lung Cancer Can Be Detected Early with Low Dose CT
Lung Cancer Can Be Detected Early w...


Sign-in
Existing NASDAQ.com member? Log in here.

By signing into to the site using any of the third-party services above, you agree to NASDAQ.com's Terms of Use.

From Our Trusted News Source





Most Active by Volume:

Company Last Sale Change Net / %
BAC $ 13.26 0.05  0.38%
HPQ $ 24.24 3.01  14.18%
QQQ $ 73.425 0.19  0.26%
MU $ 11.235 0.32  2.88%
MSFT $ 34.243 0.37  1.06%
F $ 14.8549 0.12  0.77%
C $ 50.20 0.80  1.57%
GE $ 23.595 0.27  1.11%