Call selling hits First Majestic Silver

Call selling leads the option activity in First Majestic Silver today.

More than 5,600 AG options have traded this morning, mostly in the July 12.50 calls. Those contracts were sold in relatively small blocks, with the bigger ones going for $2.10 to $2. The previous open interest was 159 options, showing that new positions were established.

Traders appear to be acting on a newsletter suggestion to sell the calls uncovered, as the volume is typical of such a recommendation in several small prints.

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