http://www.schaeffersresearch.com/m...es on molycorp inc mcp/default.aspx?ID=124255Share
Molycorp Inc (NYSE:MCP) options are flying off the shelves this afternoon, amid the rare earths stock's 1.5% dip. By the numbers, calls have a slight advantage over puts -- 25,000 contracts to 24,000 -- and are crossing at 10 times the expected rate for this point in the day.
Looking more closely, MCP is seeing potential buy-to-open activity at a number of strikes, including the out-of-the-money June 1 call and March 0.50 put. The call buyers expect the shares to muscle atop the $1 mark by June options expiration. However, in order to do so, the stock will needle to hurdle its descending 80-day moving average -- which rejected an advance earlier today -- currently resting at $0.95. By contrast, the put traders anticipate MCP will settle below $0.50 by the close on Friday, March 20, when back-month options expire.
From a wider vantage point, long calls have held a decisive advantage over long puts in recent weeks. MCP's 10-day put/call volume ratio across the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) stands at 13.67 -- above 88% of similar readings from the previous 12 months. However, some of these bets may have been initiated by short sellers hedging -- considering nearly 28% of the equity's float is sold short, which would take more than three weeks to buy back, at typical trading levels.
On the charts, Molycorp Inc (NYSE:MCP) has put on a disastrous performance over the last 52 weeks. Specifically, the shares are down 83% year-over-year to hover around $0.79.
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Last
$1.74 |
Change
0.020(1.16%) |
Mkt cap ! $1.144B |
Open | High | Low | Value | Volume |
$1.72 | $1.74 | $1.71 | $3.234M | 1.874M |
Buyers (Bids)
No. | Vol. | Price($) |
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13 | 5895 | $1.74 |
Sellers (Offers)
Price($) | Vol. | No. |
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$1.74 | 52238 | 18 |
View Market Depth
No. | Vol. | Price($) |
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10 | 152381 | 1.730 |
11 | 39192 | 1.725 |
12 | 107957 | 1.720 |
9 | 28286 | 1.715 |
10 | 288479 | 1.710 |
Price($) | Vol. | No. |
---|---|---|
1.735 | 26766 | 8 |
1.740 | 48528 | 14 |
1.745 | 90343 | 21 |
1.750 | 135107 | 13 |
1.755 | 42534 | 6 |
Last update - 15.15pm 22/02/2019 (20 minute delay) ? |
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Last
$1.74 |
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Change
0.020 ( 1.11 %) |
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Open | High | Low | Volume | ||
$1.72 | $1.74 | $1.71 | 621847 | ||
Last updated 15.37pm 22/02/2019 (live) ? |
LYC (ASX) Chart |