In 1 trade paper sold 16,676 NEM Sep 49 calls. In a second, there was massive call sweeping w/ traders buying Oct 50 calls, paying 1.57.
Newmont Mining Corp., trading 45.50 (up 1.34) with an IV30 of 39.85 and an HV10 of 44%, is seeing lots of call action today.? In the first trade, a customer sold 16676 of the Sep 49 calls at 1.02 which is likely a call over writer looking to collect some premium against a nice pop in NEM today.? In a second trade, there was massive call sweeping in NEM, with traders buying the October 50 calls, paying 1.57. On the day, about 3,000 have traded.
This is two customers, one that is likely overwriting against a long stock position looking for NEM to slow down and creep higher.? The other appears to be customers racing to get long NEM today and through October as a way of playing gold to move much higher.
Both trades are likely bullish NEM, the Sep is bearish near term vol, the October is bullish.