Coeur d'Alene Pops, Near Key Level

Shares of Coeur d'Alene

are trading higher on the session by 6.38%, at $29.85. The stock continues to push to fresh daily highs, inching closer to the very important $30.00 level. If Coeur d'Alene can breech $30.00, they will be trading at fresh three-month highs with the chance to test the $30.99 resistance level shortly after. A breech and close above $30.99 would be a major development for the name, giving it room to test upside price targets at $33.10-35.00. Calls are active on the name today (over 2x normal volume); the put/call ratio is over 4.5-to-1. Upside calls are active on the name in small lots. The largest action is on the March $29 and $32 call strikes, where both have traded over 1,400 times. Volume exceeded open interest on the $32 strike, but not on the $29 strike. This could be a roll of a long position or a fresh call spread. Note that Coeur d'Alene has 4.64% short interest, which is not insignificant. It can surely add fuel to a bull fire, as we are seeing today. Coeur d'Alene Mines Corporation is a primary silver producer with gold production and has assets located in the United States, Mexico, Bolivia, Argentina and Australia.