Puts Sold on Thompson Creek (TC)

Shares of Thompson Creek Metals Co.

are trading higher on the session by 3.88%, currently at $8.91. The stock has been selling off for the past five weeks and has broken through a number of key moving averages and support levels. Options traders are betting that the slide is at its crescendo, though, and are selling puts. The December $10 put was sold on the bid 2,000 times earlier in the session; open interest is only 667 contracts, indicating new, bullish positioning. Put volume is running at 11.52x the daily average. Thompson Creek Metals Company Inc. is a molybdenum mining company with vertically integrated mining, milling, processing and marketing operations in Canada and the United States.