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Traders are betting that Silver Wheaton will rally by the end of summer.
optionMONSTER's Heat Seeker system detected the purchase of 2,500 September 21 calls for $1.36 and $1.37 yesterday. Open interest in the strike was just 706 contracts before the trade occurred, showing that it is a new position.
These long calls lock in the price where the stock can be purchased through mid-September 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 $21. (See our Education section)
SLW was down 0.29 percent to $20.36 yesterday. The Vancouver-based silver broker rose sharply after quarterly results on May 8 and has been trying to break through resistance at its 100-day moving average.
Overall option volume in the name topped 12,300 yesterday, nearly double its daily average for the last month. Calls acounted for about 60 percent of that total.
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VanEck Vectors Global Alternative Energy ETF
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PRODUCER |
CODE : SLW.TO |
ISIN : CA8283361076 |
CUSIP : 828336107 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Silver Wheaton is based in Canada. Silver Wheaton produces silver, copper, gold, lead, silica and zinc in Canada, in Greece, in Mexico, in Peru, in Portugal and in Sweden, develops copper, gold, silver and zinc in Canada and in Chile, and holds various exploration projects in Argentina and in Portugal. Its main assets in production are ZINKGRUVAN in Sweden, KENO HILL (BELLEKENO) and MINTO MINE in Canada, SAN MARTIN - LUISMIN, PEÑASQUITO, LUISMIN and G-9 CAMPO MORADO in Mexico, YAULIYACU in Peru, STRATONI in Greece and NEVES-CORVO in Portugal, its main assets in development are PASCUA LAMA in Chile and KUTCHO CREEK in Canada and its main exploration properties are PROMOTORIO DURANGO and MONTOROS in Mexico, ALJUSTREL in Portugal and LOMA DE LA PLATA (NAVIDAD) in Argentina. Silver Wheaton is listed in Canada, in Germany and in United States of America. Its market capitalisation is 1.4 billions as of today (US$ 992.0 millions, € 902.8 millions). Its stock quote reached its lowest recent point on March 09, 2007 at 10.01, and its highest recent level on May 15, 2017 at 28.53. Silver Wheaton has 47 442 200 shares outstanding. |