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Message: Furious upside action in Silver Standard

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aitakahashi

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Furious upside action in Silver Standard

posted on Oct 27, 11 11:19AM (Log in to use the IP Check tool) ^[?]

i hope the call buyers know something:

The bullish activity started early in Silver Standard Resources and didn't let up all day.

The December 20 calls saw huge buying right out of the gate, with some large blocks going for $1.25 to $1.40 in the first 10 minutes of trading. More than 32,000 contracts changed hands against previous positioning of just 390 by the end of the day, and premiums climbed to $2.05 at their midday peak.

SSRI rallied 4.93 percent to $18.94 yesterday. The silver miner operates properties in Argentina, Canada, Mexico, Peru, and Chile, as well as the United States.

Owning calls give investors the right to buy the stock at $20, so they're highly leveraged to the upside. For example, if SSRI climbs 20 percent from yesterday's close, they should double in value. (See our Education section)

Almost 40,000 calls traded overall in the name versus barely 2,000 puts. Total volume was 31 times greater than average.

http://finance.yahoo.com/news/Furious-upside-action-Silver-optmonster-4281403657.html?x=0&.v=1

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