| Randgold bulls target recent high | |
| | |
|
Traders are looking for Randgold to rally by early next year.
optionMONSTER's Heat Seeker system detected the purchase of 3,390 GOLD January 67.50 calls for $2.10 this morning. This is clearly a new position, as open interest in the strike was just 289 contracts before the trade appeared.
These long calls lock in the price where the stock can be purchased through mid-January no matter how far it might climb. They could be sold earlier at a profit if premiums rise with a rally before then, providing potentially significant leverage, but the contracts will expire worthless if shares remain below $67.50--Randgold's recent high Aug. 21. (See our Education section)
GOLD is down 1.49 percent to $58.70 in early trade. The mining company's stock has been cut in half in the last three years with the plunge in the price of gold. Its next quarterly report is scheduled for Nov. 5.
Today's call buying makes up 96 percent of the option volume in Randgold, which is 5 times its daily average for the last month. Only 2 puts have traded so far in the session.
More From optionMONSTER
|
|
|
Randgold Resources Ltd.
|
|
PRODUCER |
CODE : GOLD |
ISIN : US7523443098 |
|
| |
ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Randgold Res. is a gold producing company based in United kingdom. Randgold Res. holds various exploration projects in Tanzania. Its main assets in production are MORILA, LOULO and TONGON in Mali and OBUASI in Ghana, its main assets in development are KIBALI (KILO-MOTO) in Congo Dem. Rep. of, MASSAWA in Senegal and GOUNKOTO in Ghana and its main exploration property is MIYABI in Tanzania. Randgold Res. is listed in Germany, in United Kingdom and in United States of America. Its market capitalisation is US$ 1.6 billions as of today (€ 1.5 billions). Its stock quote reached its lowest recent point on November 07, 2003 at US$ 10.03, and its highest recent level on January 04, 2013 at US$ 99.88. Randgold Res. has 93 804 000 shares outstanding. |