Learn the trade here. Make it on tradeMONSTER

Options Trading News

December 21, 2012  Fri 9:23 AM CT

GG: SEE CHART GET CHAIN FIND STRATEGIES
Shares of Goldcorp are at four-month lows, but one large trader apparently believes that the slide is slowing for the gold miner.

A trader sold 5,000 July 30 puts for $1.65 against open interest of 3,268 this morning, according to optionMONSTER tracking systems. Around the same time, a block of 96,000 GG shares was sold for $35.50.

The combination of stock and options creates a delta-neutral position that looks for lower volatility going forward. The trade would be designed to take a maximum profit if shares remain range-bound and/or fall to the $30 level. (See our Education section)

GG has slipped 0.32 percent to $35.63 this morning. While the stock is off its worst prices of the day so far, it is trading at the lowest levels since the start of August.
Share this article with your friends


Premium Services

Free Webinar Series

The 100K Challenge

Education & Strategy

Anatomy of a butterfly

One of the many esoterically named option strategies is known as a "butterfly." But don't be fooled: Like other advanced...

View more education articles »
optionMONSTER stockMONSTER tradeMONSTER