Shares of Turquoise Hill Resources ltd (TRQ) are up .15 to 3.46 today. ?TRQ is in the bottom of the 52-week range.
Today paper traded 392 TRQ Mar 4 calls at .10.? ADV is 2359 contracts.? The OI is 17072 contracts.
The volume went up in one block hitting the bid.? There was a .10 buyer with more of the calls trading .10 and even .15 through the offer.? There is substantial open interest on the strike and the shorts could be covering as the $4 handle looms. For now there is more volume offered at .10. The stock was trading near $5 in October.
30-day implied volatility is 66%.?? 10-day implied volatility is 51%.? 30-day implied volatility is trading above the 10-day historical volatility.
Turquoise Hill Resources Ltd., formerly Ivanhoe Mines Ltd. is an international mineral exploration and development company.?