Paramount Gold and Silver Corp (PZG)

[JAG626]

..................Why the bulls are running in Paramount

By Mike Yamamoto ([e-mail]) | optionMONSTER – 10 hours ago
........Companies:...Paramount Gold and Silver Corp. . ...RELATED QUOTES.
.Symbol Price Change
PZG 2.41 +0.06

......Bullish traders are piling into Paramount Gold and Silver after the mining company raised production estimates for a large site in Mexico.

optionMONSTER's Heat Seeker systems shows that 21,721 September 2.50 calls have traded in a strong buying pattern for $0.40 to $0.50. Open interest was 7,863 contracts at the start of the session, indicate that today's activity represents new positions.

Many of the option trades came in relatively small prints, indicating that much of the activity may be the result of a newsletter recommendation. The stock jumped after CEO Christopher Crupi said that "we have substantially upgraded our expectations for the San Miguel Project," calling it "one of the best projects of its kind in Mexico."

PZG is up 7.66 percent to $2.53, pulling back slightly after touching its 200-day moving average at $2.60. The stock has been trading in an increasingly tight range, between about $2.20 and $2.50 for the last month.

Overall option activity in the name already is more than 42 times its full-session average. Calls at all strikes are outpacing puts by 13 to 1.