Options Action: Bullishness on Canadian Miner
By: Jon Najarian
Traders are bullish on mining company Silver Wheatonas precious metals move higher today.
Options activity is focused on the March 5 and 7.5 calls, according to OptionMonster's tracking systems. The March 5 calls in particular have drawn buyers, moving up in price from $0.60 to $1 in just the last few days.
Shares in the Canadian company , which operates silver mines around the world, have soared 50 percent in the last week and today broke though their 50-day moving average. SLW is trading around $4.33 in the late afternoon, up more than 7 percent on the day.
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Jon 'DRJ' Najarian is a professional investor, CNBC contributor, and cofounder of OptionMonster.
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Traders are bullish on mining company Silver Wheaton as precious metals move higher today.
