Gold and silver miners digging into higher ground. Earlier on CNBC, options trader Jon Najarian noted a large increase in at-the-money and out-of the-money calls on GoldCorp (NYSE:GG) saying that he’s seeing a big shift into the gold and silver sector.
Breaking out to new highs today
Silver miners: SLW, SVM, EXK
Gold miners: ANV, GG, VGZ
The biggest gainers are Endeavor Silver (NYSE:EXK) up 10%, and Vista Gold (NYSEMKT:VGZ) up 7%, both rising on heavy volume. Their options are also seeing action on both the call and put sides, although volume is clearly in favor of the calls.
Both stocks have broken near-term resistance with EXK hitting its all-time high. Their weekly charts are shown below.