Big Barrick Options Bet (ABX)

Posted in Options 
October 21st, 2009

Barrick Gold Corporation (NYSE: ABX) is trading just under $39.00, yet there is a very bullish bet that was made.  The Jan-2011 $55.00 CALLS saw some 20,001 contracts trade today versus a prior open interest of 10,964 contracts.  There was no other side taken in the PUTS and this was larger than the entire open interest.  Someone is betting for or against $1,200.00 to $1,400.00 gold, or so it would seem…. UPDATE at 2:51 PM EST: after further review, there were also 20,705 of the APRIL-2010 $30 CALLS that traded today, and the prior open interest was 20,771 contracts.  -JON OGG

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