Tuesday, July 12, 2011

Gold Fields (GFI) - Calls Trade Size

GFI is trading $14.96, up 3.5% with IV30™ up 4.0%. The LIVEVOL® Pro Summary is below.


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Gold Fields Limited (Gold Fields) is engaged in gold mining and related activities, including exploration, extraction, processing and smelting. Gold Fields is a producer of gold and a holder of gold reserve in South Africa, Ghana, Australia and Peru. In Peru, Gold Fields also produces copper.

This is an order flow note. The company has traded over 32,000 contracts on total daily average option volume of just 2,974. Calls have traded on a ~62:1 ratio to puts with the Aug 14 calls having traded nearly 27,000x. Those orders look substantially long, today. The Stats Tab and Day's biggest trades snapshots are included (below).

The Options Tab (below) illustrates that the Aug 14 calls substantially opening (compare OI to trade size). When looking down the entire option chain for GFI, I don't see any OI even close to 30k, so this interest is large.

The Skew Tab snap (below) illustrates the vols by strike by month.

The skew is slightly parabolic, but essentially a normal (but pretty) shape. The lack of bend to the upside is surprising to me. Te stock has traded just under 3 million shares thus far to a daily average of 4 million -- so it doesn't feel like these calls are going up with stock.

Finally, the Charts Tab (6 months) is below. The top portion is the stock price, the bottom is the vol (IV30™ - red vs HV20 - blue vs HV180 - pink).

The most noticeable trend I see is in the vol chart -- check out how high IV30™ has spiked of late relative to the HV20 and HV180. Specifically:

IV30™: 33.85
HV20: 27.24
HV180: 29.82

As of 7-7-201, the IV30™ was 30.22.

This is trade analysis, not a recommendation.

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