Market News

November 29, 2016  Tue 8:22 AM CT

An investor is looking for Stillwater Mining to rally by early 2018.

OptionMonster's market scanner shows that 2,000 January 2018 17 calls were purchased in one print for $2.05 yesterday. This is clearly a new position, as open interest in the strike was just 155 contracts before the trade occurred.

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 Education section)

SWC rose 0.14 percent to $14.62 yesterday and is up 14 percent in the last month. The platinum and palladium producer is expected to report earnings in pre-market hours on Feb. 21.

Overall option volume was 3 times greater than average in the name yesterday. Calls outnumbered puts by a bullish 4-to-1 ratio.

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