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

Large trade is ready for pullback in Teck

July 13, 2016

The mining company has been running higher for months, but one large trader apparently believes that it may be ready to take a break.

TCK

Bulls rolling ahead in Tech Resources

July 6, 2016

The mining company fell sharply with other commodity names yesterday but is still up 96 percent in the last three months.

OptionsHouse

Premium Services

Education & Strategy

Keep it simple

One of the appealing features about options trading is that different options can be combined to create a large variety of risk vs. reward profiles.

View more education articles »