IAMGOLD Looking…Well, Golden (IAG)

Shares of IAMGOLD Corp. (NYSE: IAG) are higher on the session by 6.51%, currently trading at $18.00. The stock has been moving largely higher over the past six months, off from a recent high near $13.00. IAG has run into resistance around $19.25-19.50 a number of times.

Options traders are betting that the stock can break though that level over the next few months. Although there has been quite a lot of small lot trading on a number of strikes in a number of months, the largest trade was on the December $20.00 strikes, where 1,200 calls were bought. Open interest on the strike is 2,997 contracts.

Call volume is now running at 2.5x the daily average.

IAMGOLD Corporation is a Canada-based mining and exploration company. IAMGOLD's interests include seven operating gold mines and a niobium producer, a diamond royalty, and exploration and development projects located throughout Africa and the Americas. The company's advanced exploration and development projects include the Essakane Project in Burkina Faso, the Westwood Project in Canada and the Quimsacocha Project in Ecuador.

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