Southern Copper chairman buys 50,000 shares

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Bobby Raines 09/03/2014

German Larrea Mota-Velasco, the chairman of Southern Copper Corp. ( SCCO ) , bought 50,000 shares of the company's common stock on Sept. 2. At $32.56 per share, Mota-Velasco paid a total of $1,628,000 for the new shares.

IK-> The technicals for SCCO ($32.84 up $0.39) are bullish with an upward trend. Recent support has been around $31.35 and recent resistance has been near $33.00. Standard & Poor's does not follow the stock. Look at the Nov. 27/30 bull-put spread for a 25-cent credit. That's a 9.1% return and the stock has to fall 8.6% to cause a problem.  [InvestorsKeyhole, Various news and data services]

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

Originally published on InvestorsObserver.com



This article appears in: Investing , Options


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