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Current DateTime: 03:18:05 29 Nov 2009
LinksList Documentid: 30328029

CNBC Stock Blog

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Apr.22
4:14 PM ET
Wednesday, 22 Apr 2009
Options Boil as Coal Stock Soars

Alpha Natural Resources is scorching with options action while its stock pops Wednesday, on the latest bump in a roller-coaster ride that began several months ago.



Jon "DRJ" Najarian
Cofounder, optionMonster.com

The mineral-processing company's stock [ANR  Loading...      ()   ] is up some 8.5 percent to $18.72 this afternoon, apparently on rumors that a company in China is looking to expand its hold on steam and metallurgical coal.

ANR's chart — which has seen lows near $15 and highs over $22 in just the last two months — appears to show that shares could push to those high levels again on the move if it holds.
(Contd.)

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Options Education:

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Normal full-session call volume is 2,000 contracts, but ANR traded 7,900 options in the first 30 minutes of today's session alone, according to OptionMonster's real-time tracking systems. There was some large-block action in the nearest-month contracts, especially at the May 20 and May 22.50 calls.

The company is scheduled to report quarterly earnings before the market opens May 6.

Disclosures:

I have long positions in ANR.

More Options Tips from Jon Najarian

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More Coal Miners:

Arch Coal [ACI  Loading...      ()   ]

Consol Energy [CNX  Loading...      ()   ]

Peabody Energy [BTU  Loading...      ()   ]

Massey Energy [MEE  Loading...      ()   ]

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Jon 'DRJ' Najarian is a professional investor, CNBC contributor, and cofounder of OptionMonster.com.

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