Options Brief: Ivanhoe Mines (IVN)

IVN – Ivanhoe Mines Ltd. – Shares of the international mineral exploration and development company are currently up 4.00% to arrive at $17.11 as of 11:15 am (ET). Ivanhoe’s share price increased as much as 22.15% so far this week, having rallied up from Monday’s intraday low of $14.22, to today’s intraday high of $17.37. Shares surged on Tuesday after the company said it plans to abandon an accord that restricts its ability to bring new investors into its $4.6 billion mining project in Mongolia. Bullish options investors positioning for continued appreciation in the price of the underlying stock dominated trading activity on Ivanhoe this morning. Traders purchased at least 5,200 now in-the-money calls at the July $17 strike for an average premium of $0.31 per contract. Call buyers make money if Ivanhoe Mines’ shares trade above the average breakeven price of $17.31 ahead of expiration in two days.

About Andrew Wilkinson 1023 Articles

Affiliation: Interactive Brokers

Andrew Wilkinson is the senior market analyst at Interactive Brokers Group, where he provides daily commentary and analysis on U.S. equity options trading throughout the trading day. Andrew provides webinars designed to explain option-related trading scenarios covering futures, fixed income, forex and equities.

Interactive Brokers: Interactive Brokers offers direct market access to around 80 electronic global markets from a single account. Successful traders and investors understand that superior technology and lower trading costs can result in greater returns. For 32 years we have been building direct access trading technology that delivers real advantages to professionals worldwide. With consolidated equity capital of US $4.4 billion, IB and its affiliates exceed 1,000,000 trades per day. In addition, our prudent and conservative risk policies make Interactive Brokers a safe haven for your money. Discover some of the reasons why IB, the largest independent US broker/dealer, is the professional traders' and investors' choice.

Visit: Interactive Brokers

Be the first to comment

Leave a Reply

Your email address will not be published.