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CNBC Stock Blog
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Teck Cominco is jumping with huge options activity, amid rumors that BHP Billiton may be interested in buying the Canadian mining company.
Normal full-session volume is 2,400 calls, but today (Wednesday), TCK traded 20,000 contracts in the first 2.5 hours alone, according to OptionMonster's real-time tracking systems.
The April 7.50 calls are the favored option, trading more than 14,000 contracts all by itself.
TCK shares [TCK
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] are up some 9.4 percent on the session to just over $7. But the stock was over $58 last year, so at today's prices it could indeed be an attractive acquisition candidate even though it has more than doubled in the last 20 days. BHP [BHP
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], meanwhile, is about flat on the day.
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Options Trading School:
- Basic Strategies — with Examples
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Other Copper & Gold Miners:
Freeport-McMoRan Copper & Gold [FCX
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Newmont Mining [NEM
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Southern Copper [PCU
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]
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Jon 'DRJ' Najarian is a professional investor, CNBC contributor, and cofounder of OptionMonster.com.
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Data is a real-time snapshot *Data is delayed at least 15 minutes