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Options Action 'Huge' for Gold & Copper Miner

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 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, meanwhile, is about flat on the day.

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Options Trading School:

- Options Terms/Glossary

- Basic Strategies — with Examples

- The ABCs of Options

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Other Copper & Gold Miners:

Freeport-McMoRan Copper & Gold

Newmont Mining

Southern Copper

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

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