Tuesday, February 9, 2010

Kinross Gold (KGC) Unusual Call Buying

Just a short quick note.  Seeing very large and unusual call option buying at KGC March $17 calls.  Over 8000 contracts have traded vs. open interest of only 416.  Nearly all of them hitting the offer side.  Following the fast money, I am doing the following call spread:


- Buy to open March $17 calls
- Sell to open March $20 calls


Buying the above call spread for a net debit of $0.95.