Market Overview

Calls Purchased on Golden Star Resources (GSS)

Shares of Golden Star Resources LTD (AMEX: GSS) are higher on the session by 6.37%, currently trading at $4.42. The stock has been trading largely sideways for the past two months, but the stock is moving higher today, bouncing off the 50-day moving average as well, on higher Gold prices.

Options traders are betting that the stock may make a run at its 52-week high around $4.91. The July $5.00 call was purchased 1,000 times, on the offer; open interest on the strike is 493 contracts, signaling new, bullish positioning.

Call volume is now running at 2.2x the daily average.

Golden Star Resources Ltd. is an international gold mining and exploration company producing gold in Ghana, West Africa. The Company also conducts gold exploration in other countries in West Africa and in South America.

Posted-In: Long Ideas Technicals Options Trading Ideas

 

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