Option update: Newmont Mining, Freeport McMoRan volatility up as gold at record

Posted Nov 7th 2007 11:18AM by Paul Foster
Filed under: Newmont Mining (NEM), Options, Freep't McMoRan Copper (FCX)

Newmont Mining Corp. (NYSE: NEM), the world's largest non-hedged gold producer, closed at $54.50. Gold is recently up 2.36% to $842.80, according to Bloomberg. NEM November option implied volatility is at 44, December is at 42 above its 26-week average of 33 according to Track Data suggesting larger price risks.

Freeport McMoRan Copper & Gold (NYSE: FCX) closed at $113.50. FCX, is engaged in copper, gold and silver mining and production operations. Gold is recently up 2.36% to $842.80 according to Bloomberg. FCX over all option implied volatility of 46 is above its 26-week average of 43 according to Track Data, suggesting larger risk.

Daily options Update is provided by Stock Specialist Paul Foster of theflyonthewall.com.

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