OptionsHouse

Options Trading News

July 25, 2014  Fri 3:16 AM CT

TCK: SEE CHART GET CHAIN FIND STRATEGIES
Teck Resources popped after reporting earnings yesterday, and one trader is betting that shares will hold firm.

optionMONSTER's tracking systems detected the sale of 2,008 February 22 calls in one print for $1.28 yesterday. This is clearly a new position, as open interest in the strike was just 49 contracts before the trade appeared.

The put seller is looking for TCK to stay above $22 through expiration early next year. But the trader will also be on the hook to buy shares if they fall below that strike price. (See our Education section)

TCK rose 1.17 percent yesterday to close at $24.15. The copper, coal, and energy producer beat second-quarter earnings estimates while meeting revenue expectations.

Yesterday's put sale followed bullish call buying in the name twice this month, as reported on our InsideOptions Pro subscription service.
Share this article with your friends


Related Stories

TCK

Is Teck Resources ready for a pullback?

May 2, 2016

The mining company reported a surprise quarterly profit last Tuesday and is up is up 213 percent in the last three months.

OptionsHouse

Premium Services

Education & Strategy

The Problem with Trading Earnings

AP Options specializes in Swing Trading. Swing trading is the art of locating short term, quick, aggressive movements in a stock normally created by the technicals but, can be sometimes created by the fundamentals. These trades, at least in this service, last a couple of days to a week in the majority of cases.

View more education articles »