Huge call sale sees cap in Mechel

optionMONSTER

A huge call sale is betting that gains will be limited in Russian steel maker Mechel.

optionMONSTER's tracking systems detected the sale of 26,357 April 3 calls in one print for $0.15 this morning. This is clearly a new position, as open interest in the strike was just 1,610 contracts before the trade appeared.

The calls could have been sold naked with an initial bearish bias, or they could have been traded against stock in a covered-call position . The latter would be bullish up to the $3 strike price but would not participate in gains above that level. (See our Education section)

MTL is down 3.23 percent to $2.40 today. Shares fell from above $7 to below $3 from the beginning of the year to early June and gapped down further in November.

Call selling in the April 3 strike makes up almost all of the option volume in Mechel so far today. More than 30,000 contracts have changed hands in all, compared with a daily average of just 226 for the last month.

More From optionMONSTER

View Comments

Recommended for You

  • First lady gets resume from girl with jobless dad

    WASHINGTON (AP) — Michelle Obama's annual question-and-answer session with the children of Executive Office employees took a serious turn Thursday when a 10-year-old girl in the front row told the first lady that her dad had been out of work for three years. Then the girl popped up to hand the…

    Associated Press
  • In Disney's shadow, homeless families struggle

    KISSIMMEE, Fla. (AP) — When they moved from Georgia to the theme park playground of central Florida four years ago, Anthony and Candice Johnson found work at a barbecue restaurant and a 7-Eleven. Their combined salaries nevertheless fell short of what they needed to rent an apartment, so the couple…

    Associated Press
  • Phones With Built In MSFT Office Boost Output

    Get your company a formidable business smartphone with built-in Microsoft Office and enterprise-level security to give you peace of mind.

    AdChoices NokiaSponsored
  • Musk’s Tesla Income Plummets 99.9% to Less Than $70,000

    Elon Musk, Tesla Motors Inc. (TSLA) ’s chief executive and one of the wealthiest U.S. entrepreneurs, saw his take-home pay from the automaker plunge by more than 99.9 percent last year after a surge in his 2012 stock options. Compensation for the leader of the youngest publicly held U.S. automaker…

    Bloomberg
  • Putin Says Visa and MasterCard Will Lose Market Share

    Russian President Vladimir Putin said Visa Inc. (V) and MasterCard Inc. (MA) will lose market share in Russia after they blocked some transactions because of U.S. sanctions on individuals and banks. “We don’t see any steps to punish unconscionable partners, but they are undermining trust, hence…

    Bloomberg
  • Cramer: Tech stock heading to $70

    Jim Cramer looks at many metrics as he decides where to put money. And in the case of this tech firm, he's spotted something very bullish.

    CNBC
  • Why it may be time to fold on casinos

    Casino stocks have been on a winning streak. But is it time to fold them?

    Talking Numbers
  • Here's why the biotech bounce may be short lived

    Will biotech get its mojo back or is it a dead cat bounce?

    Talking Numbers
  • Russia's Putin calls the Internet a 'CIA project'

    MOSCOW (AP) — President Vladimir Putin on Thursday called the Internet a CIA project and made comments about Russia's biggest search engine Yandex, sending the company's shares plummeting.

    Associated Press
  • Gold Delta Skymiles Card

    30,000 bonus miles offer with the Gold Delta SkyMiles Credit Card.

    AdChoices DeltaSponsored
  • Play

    Best Credit Card for Travel Rewards?

    WSJ travel columnist Scott McCartney discusses the new Orbitz reward credit card and others that up the ante for the travel rewards category on Lunch Break.

    WSJ Live
  • North Dakota finds more radioactive oil waste

    BISMARCK, N.D. (AP) — North Dakota confirmed Thursday the discovery of a new radioactive dump of waste from oil drilling, and separately a company hired to clean up waste found in February at another location said it removed double the amount of radioactive material originally estimated to be there.

    Associated Press
  • Business Insider
  • Buffett disapproves of Coca-Cola's pay plan

    NEW YORK (AP) — Warren Buffett criticized Coca-Cola's pay plan for its executives on Wednesday.

    Associated Press
  • Postal workers' unions protest Staples program

    CONCORD, N.H. (AP) — Postal workers in cities big and small protested in front of Staples stores on Thursday, objecting to the U.S. Postal Service's pilot program to open counters in stores, staffed with retail employees.

    Associated Press
  • Pros and Cons of Paying Off Your Student Loans Early

    While paying off your student loans early seems like a no-brainer, it might not always be the best financial decision. Here are some of the pros and cons to paying off your student loans early, and some tips on how to pay them off. Paying off your student loan debt early can save you a good chunk…

    The Fiscal Times
  • The New Sedan that Stands Out from the Crowd

    Incredible driving with incredible fuel efficiency is now a reality. New 2014 Models have just arrived! Search online for dealer inventory.

    AdChoices Mazda USASponsored
  • US oil stockpiles hit record amid production boom

    US commercial oil stockpiles hit a new record last week on the strength of continued growth in oil and gas production in the world's biggest oil-consuming country. Commercial stocks rose 3.5 million barrels to 397.7 million barrels for the week ended April 18, according to US Energy Information…

    AFP
  • United loses $609M in 1Q; fares don't cover costs

    United Airlines is the one U.S. carrier that can't seem to get its act together.

    Associated Press
  • Play

    Wall Street Bracing for Key Tech Earnings

    Polya Lesova takes a look at the markets, including three stocks to watch today. Photo: Andrew St. Clair for The Wall Street Journal.

    WSJ Live
  • Study: US manufacturers gaining competitiveness

    WASHINGTON (AP) — U.S. manufacturers have grown more competitive over the past decade compared with factories in China, Brazil and most of the world's other major economies.

    Associated Press
  • Amazon launches grocery service for Prime members

    NEW YORK (AP) — Amazon is taking aim at grocery stores and discounters like Wal-Mart with a grocery service that lets its Prime loyalty club members fill up to a 45-pound box with groceries and get it shipped for a flat rate of $5.99.

    Associated Press
  • Play

    Microsoft Posts Smaller-Than-Expected Profit Decline

    The first earnings report for Microsoft under new CEO Satya Nadella showed strong fiscal third-quarter sales from office tools, database and others programs for computer centers. WSJ's Shira Ovide and Scott Thurm report. (Photo: AP)

    WSJ Live
  • Is your home ready?

    The best of soccer is coming! Get FiOS and bring the stadium home. Discover how.

    AdChoices Verizon FiOSSponsored