Calls Purchased on Northern Dynasty Minerals (NAK)
May 19, 2011 12:38 PM
Shares of Northern Dynasty Minerals (NYSE: NAK) are higher on the session by 0.27%, currently trading at $11.16. The stock has been moving largely lower over the past four months and is currently trading below the 50-day and 200-day moving averages.
Options traders are buying calls on the name today. A short while ago the November 2011 $15.00 call was purchased 1,000 times, on the offer, on open interest of only 267 contracts. This signals new positioning on the strike.
Overall call volume is now running at 2.08x the daily average with 97% of all calls traded being purchases on the offer.
Northern Dynasty Minerals Ltd. is a Canada-based company engaged in the exploration of mineral properties. The company owns a 50% interest in the Pebble Limited Partnership.
