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Investing

Kinross Sees Unusual Call Option Trading (KGC)

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By Jon C. Ogg Published
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Kinross Gold Corporation (NYSE: KGC) is seeing some elevated options trading today out in April.  Shares are up 1.5% at $10.74, but the action is out in the April call options in the $11 and $12 strike prices as you can see below with the strike price, volume, and open interest:

CALLS  Vol.   OpInt

$11.00 11,599   489

$12.00 16,082  1,372

When you see large contracts trading like this and a very low open interest it signals new positions being taken rather than close-outs of a prior position.  These are also not roll-out trades from March either because the $11 strike price in March has open interest of 4,259 contracts.  The $12 strike did have a large open interest in March of 14,450 contracts.

Kinross Gold’s $10.74 share price compares to a 52-week trading range of $9.96 to $18.25.  On a fully leveraged basis as of 1:45 that is worth more than 2.7 million shares.

JON C. OGG

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About the Author Jon C. Ogg →

Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.

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