Over 24,000 GFI Jan 3 calls were purchased in small blocks in what could be a newsletter trade or could be a single player with an axe to grind.
Gold Fields Limited ADR, trading 2.96 (down .17) with an IV30 of 73.30 up 7.7 and an HV10 of 76%, is seeing bullish call action on the January 3 strike. ?The stock, with an ADV of 2100 and an OI of 75,272, has seen over 24,000 of the January 3 calls purchased in small blocks in what could be a newsletter trade or could be a single player with an axe to grind in GFI.? These calls have been bought in blocks ranging from .27 all the way to .34 a contract even as the stock has backed off a few points.? Based on the strike OI, this position is opening.
This appears to be an aggressively bullish play on GFI between now and January expiration.? The trade will do its best if GFI makes a run higher back above 3.00 a share and toward 3.50.? This is an ugly chart as the stock was above 6 as recently as August and was above 4 earlier in the month.? This trade appears to be a play on the stock turning around.
This trade is aggressively bullish the underlying and bullish volatility.