Rare Element (REE), which saw a three-day 67 percent rally prior to today on reports China will slow key mineral exports to the US, is off $1 to $11.74 Thursday morning. Brisk trading in REE options continues. 7860 puts and 3920 calls traded or 18X the recent average daily. Players are jockeying for the stock’s next move in Nov 10 puts, Dec 10 puts, and Nov 12.5 calls. Nov 7.5 and 12.5 puts are busy as well. Implied volatility is up 7 percent to 131, up 36.5 percent since the rally began on Monday.
Thursday, October 21, 2010
What's Trading: "Rare Element Resources Ltd (REE) $11.77 -7.61%"