Mon, Aug 15, 2011 - 11:26am
SIL is up 1.5% today (at 11am), but call options are flat (or even negative) for virtually all maturities and strikes. The volume is nearly nothing across the board, and the bid/ask spreads are all huge. This is true of individual mining stocks as well. Is this a sign that no one has any idea where the market is going?
I would have at least expected that there would be some gain in the value of the call options (better than 1.5%). (Can you tell I own some?) It's not the intraday pop that I care about, but the fact that this may be writing on the wall. I just can't read the writing. If the EE knew the bottom was going to fall out from under the mining shares, you'd think they crank up the volume writing calls, but there's no volume.
GDX (up 0.76%) and GDXJ (up 1.2%) are even more strange. Their call options are down across the board. Low volume also.
Edited by: sconcedeleon on Nov 8, 2014 - 5:08am