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trickledownfacists

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trickledownfacists

Re: None

Thursday, 01/22/2015 11:24:03 AM

Thursday, January 22, 2015 11:24:03 AM

Post# of 7522
Heavy call selling sees little upside potential in advanced-material manufacturer Molycorp.

optionMONSTER systems show that 8,000 September 1 calls were sold for $0.05 this morning. Open interest in the strike was only 20 contracts before the trades appeared, so this is clearly new positioning.

The calls were not tied to any MCP stock trades identified by our systems today, but the options were very likely sold against an existing long position in a covered-call strategy. That is bullish up to the $1 level but not beyond. (See our Education section)

MCP is down 4.37 percent to $0.44 in early trading. The stock was couple of pennies lower this morning as it hit all-time lows. Shares have trended lower all year after trading above $5.60 last February.
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