Monday, December 27, 2010

What's Moving: "Rare Element Resources Ltd UP 12.40%" (REE)

I must say your humble scribbler didn't see that one coming.
From What's Moving:
Rare Earth (REE) adds $1.18 to $11.34 and bullish flow is detected, with heavy trading in the Jan $9, 10, 11, and 12.5 calls. Total call volume is 9,240 contracts or 2X the average daily. Implied volatility is up 10 percent to 80. Looks like speculative call buying, perhaps in reaction to a PC World story that noted that “Colorado-based Molycorp resumed active mining of the rare earth metal facility at Mountain Pass, California last week.” MCP is up 10 percent ...
[humble? bwahahaha -ed]