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Dole Food Company, Inc Common S Message Board

datamatters2003 2 posts  |  Last Activity: Sep 17, 2014 12:16 PM Member since: Nov 7, 2002
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  • Here is a long quote from OptionMonster's article originating yesterday and re-published today. It indicates a development bullish for FCX. Note also the heavy insider buying at SSCO, which, while a different company, presumably indicates SCCO's CEO is not bearish on overall copper mining stocks' future.

    "optionMONSTER's Heat Seeker program detected heavy call buying, with a big focus on contracts expiring this Friday. It first appeared in the September 35s for $0.16 to $0.30, followed by prints later in the day for as much as $0.48. Some 23,800 contracts traded overall, more than twice the previous open interest in the strike, indicating that new positions were initiated.

    The buying continued with the September 34.50s, which traded almost 14,000 contracts mostly for $0.36 to $0.63 in volume far above that strike's open interest of 1,833 contracts. The September 35.50 calls saw volume of more than 4,400 as well.

    Long calls lock in the price where a stock can be purchased, letting investors position for a rally with limited cost. They carry less risk because the most that can be lost is the price of the options, no matter how far shares may fall. (See our Education section)

    FCX surged with the option trades and ended the session up 1.66 percent to $34.89. The mining and energy company rebounded after holding support at $34 for a week and as sentiment turned in favor of global-growth stocks and commodities. Shares peaked around $39 two months ago and have been sliding since.

    Total option volume in the name was 5 times greater than average in the session, with calls outnumbering puts by a bullish 6-to-1 ratio."

    Best wishes,
    Data

  • Nice to see FCX rise decently the last 45 minutes of each of the last three days. Also, note early July 10, 2014, The Street reported HSBC initiated coverage on FXC with a "buy" rating and a $44 price target.

    Combine the price target with the dividend, and FCX's prospects must look quite good to HSBC.

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