Mining stocks and options
Among the embattled mining sector, only one stock, US Silica Holdings Inc. (Ticker: SLCA) is showing a share price gain for the day. Elsewhere, the monitor is as red as copper!
Note also the popularity of short-sale restrictions in place on several names including Freeport McMoRan (Ticker: FCX), Southern Copper Corp. (Ticker: SCCO), Teck Resources Ltd. (Ticker: TCK) and First Majestic Silver Corp. (Ticker: AG). The stocks are ranked by daily option volumes for Wednesday, with Freeport, Alcoa (Ticker: AA) and Barrick Gold Corp. (Ticker: ABX) at the top. The line chart to the right illustrates the associated reading of implied volatility for each ticker, ranging from 33% for BHP Billiton (Ticker: BHP) to 154% for Molycorp Inc. (Ticker: MCP).
Table – Most active options and implied volatility for mining stocks