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Traders want Eldorado Gold to live up to its name.
optionMONSTER's Heat Seeker monitoring system detected the purchase of 5,100 January 3 calls in the miner, whose name means "city of riches," for $0.50. Volume was more than triple open interest at the strike.
Long calls lock in the price where investors can buy stock, allowing them to profit from a rally with limited capital at risk. Their cheap cost can also generate significant leverage on a percentage basis if shares move in the right direction.(See our Coaching section)
EGO rose 1.87 percent to $3.26 in afternoon trading but is down 20 percent in the last three months. It's been falling along with other gold miners as interest-rate fears hammer precious metals . Today's activity reflects a belief the stock is due for a bounce.
Overall option volume was 8 times greater than average, according to the Heat Seeker. Calls outnumbered puts by more than 500 to 1. More From optionMONSTER
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Eldorado Gold Corporation
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PRODUCER |
CODE : ELD.TO |
ISIN : CA2849021035 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Eldorado Gold is a gold producing company based in Canada. Eldorado Gold produces gold, iron in Brazil, in China, in Mexico and in Turkey, develops gold and silver in China and in Greece, and holds various exploration projects in Brazil and in China. Its main assets in production are KISLADAG and EFEMÇUKURU in Turkey, LA TRINIDAD - ELDORADO in Mexico, TANJIANSHAN, JINFENG, JIANCHALING, WHITE MOUNTAIN and BEYINHAR in China and VILA NOVA in Brazil, its main assets in development are EASTERN DRAGON in China and PERAMA HILL in Greece and its main exploration properties are HEI-SHAN (SHANDONG) and ZHANGJIASHAN in China and TOCANTINZINHO in Brazil. Eldorado Gold is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 13.6 billions as of today (US$ 10.9 billions, € 9.6 billions). Its stock quote reached its lowest recent point on August 03, 2001 at CA$ 0.21, and its highest recent level on March 28, 2024 at CA$ 19.04. Eldorado Gold has 716 820 032 shares outstanding. |