Shares of New Gold Inc. (NGD) are up .23 today to 5.73.? NGD is at the bottom end of the 52-week range.
Today paper traded 14,173 NGD May 5 calls for 1.05-1.15.? ADV is 1,251 contracts.? The OI is 513 contracts.
The volume went up large size blocks on several exchanges.? Most of the paper was straight buy lifting the offer for a fill.? The trade is either a very bullish bet ATM or a call versus stock trade looking for a big move.? Since the name is so far down for the year, the former bet makes more sense.? IV30 is up 3.7 points.
30-day implied volatility is 49%.? ?10-day implied volatility is 51%.? 30-day implied volatility is trading below the 10-day historical volatility.
New Gold Inc. is engaged in gold mining and related activities, including acquisition, exploration, extraction, processing and reclamation.?