| Gold miners draw bullish spread | |
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Traders are betting that the Market Vectors Gold Miners Fund will rally by next spring.
optionMONSTER's Heat Seeker system shows that 2,562 GDX March 13.50 calls were bought for $1.79 while same number of March 19.50 calls were sold for $0.33. These are new positions, as volume was far above open interest in both strikes.
This vertical spread cost a net $1.46 to open and is looking for GDX to rise above $13.50 by expiration in mid-March 2016. The sale of the higher-strike contracts reduces the cost of the long calls but limits potential gains, as the trader will be obligated to sell shares if they rise above $19.50. (See our Education section)
GDX is up 0.9 percent to $13.48 in early trade but has fallen some 27 percent in the last three months. The exchange-traded fund has plummeted with the price of gold but has held support at the $13 level for the last several weeks.
Total option volume is only about half its full-session average for the last month, but overall calls are outnumbering puts by more than 6 to 1 so far.
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Prb Energy Inc.
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CODE : PRB |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Prb Energy is a and oil development stage company based in United states of america. Prb Energy is listed in Germany and in United States of America. Its market capitalisation is US$ 214.4 millions as of today (€ 188.5 millions). Its stock quote reached its lowest recent point on April 25, 2008 at US$ 0.10, and its highest recent level on June 28, 2019 at US$ 24.58. Prb Energy has 8 722 000 shares outstanding. |