Or just another random moment of nonsense in this casino. Other coal stocks are down 10%+, James River is up 13%. Volume is average - I only noticed because this is one of the 3 remaining global growth stocks we still own (for trading purposes only).
In the option pit someone bought 240 November 7.5s (open interest around 350), and 500 November 10s (open interest 640) - bid ask is 0.05/0.15 on the latter so it could be just a random (cheap) bet on this price action. Sounds about right - this is the casino after all.
Long James River Coal in fund; no personal position
2 comments:
glad I closed my position yesterday - yikes. Fortunately (all relative), it was to add to my shorts
I'm sure you did better in any short position today. And with the casino, tomorrow JRCC will probably be down 20% short of a buyout tomorrow morning :)
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