| What's behind call sale in Gold Fields | |
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A large investor is willing to wait for limited gains in Gold Fields.
optionMONSTER's monitoring systems detected the sale of 6,750 January 2017 4 calls in one print for $0.42 yesterday. That is clearly a new position, as the volume was well above the strike's open interest of 2,251 contracts. At the same time, a block of 675,000 shares was bought for $2.96.
This is a covered-call strategy , with the trader selling the upside options to collect the premium as income while waiting for the stock to rally. The position is modestly bullish, as the investor is looking for shares to rise but will be obligated to sell them if they are above $4 by expiration in mid-September. (See our Coaching section)
GFI rose 4.9 percent to $3 yesterday and is up 16 percent in the last month. The gold miner's next earnings report is scheduled for pre-market hours on Feb. 18.
Overall option volume in the name was 15 times greater than average yesterday.
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Gold Fields ltd
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PRODUCER |
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CODE : GFI |
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ISIN : US38059T1060 |
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ProfileMarket
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Projects & res.Press
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Asset profileContact Cpy |
Gold Fields is a gold producing company based in South africa. Gold Fields produces gold, copper in Australia, in Ghana, in Peru and in South Africa, develops gold in Mali, and holds various exploration projects in Peru. Its main assets in production are ST IVES MINE and AGNEW in Australia, BEATRIX MINE, DRIEFONTEIN, KLOOF MINE, SOUTH DEEP, KLOOF and BEATRIX in South Africa, DAMANG, TARKWA and DAMANG PROJECT in Ghana and CERRO CORONA in Peru, its main asset in development is KOMANA in Mali and its main exploration properties are LOBO in Philippines and CHUCAPACA and CANAHUIRE in Peru. Gold Fields is listed in France, in South Africa and in United States of America. Its market capitalisation is US$ 10.8 billions as of today (€ 9.5 billions). Its stock quote reached its lowest recent point on November 10, 2000 at US$ 1.69, and its highest recent level on October 12, 2023 at US$ 13.18. Gold Fields has 821 530 048 shares outstanding. |