Teck Cominco (NYSE: TCK) closed at $14.04. TCK, a metals producer, announced on May 5 it issued $4.255 billion in long term bonds. TCK June and August option implied volatility of 84 is below its 26-week average of 111, according to Track Data, suggesting decreasing price movement.

Rio Tinto (NYSE: RTP) closed at $183.66. RTP, the world's third-largest mining company, was upgraded to Overweight from Equalweight at Barclays Capital. RTP June option implied volatility of 70 is below its 26-week average of 85, according to Track Data, suggesting decreasing price movement.

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

Here are some highlights from this past week's earnings coverage from BloggingStocks:

• American Express Co. (NYSE: AXP) Q1 profit blew away estimates, sending shares soaring.
• Apple Inc. (NASDAQ: AAPL) topped analysts expectations and offered conservative guidance.
• Boeing Co. (NYSE: BA) reported better-than-expected results but warned that if faced challenges.
• Coach Inc. (NYSE: COH) topped Q3 profit estimates and announced the start of quarterly dividends.
• Continental Airlines Inc. (NYSE: CAL) widened is net loss in Q1 but still beat low Wall Street estimates.

This post is part of a special annual report -- Top Stock Picks '09 -- in which TheStockAdvisors.com asked 75 leading newsletter advisors to select their favorite investment for the new year.

"We own several stocks in our portfolio that are selling for less than their book value and with a P/E ratio of less than 5 -- but the prize among bargains is Teck Cominco (NYSE: TCK), our most promising stock for 2009," says Neil Macneale.

In his 2 for 1 newsletter -- which initially buys stocks when they announce 2-for-1 splits, he says, "It would be hard to argue this company is not literally being given away."

Macneale explains, "I bought this stock for the 2-for-1 portfolio over a year and half ago and its stock price has declined by about 90% since then.

"The Canadian mining company produces copper, zinc, gold, and metallurgical coal. All assets are in North America except for most of its copper operations, located in Peru.

"With a PE ratio bouncing between 1 and 2, and a Price-to-Book ratio at around 0.3, you are getting a well-established (1906), well-run asset play for less than its book value, even if existing plant and reserve values are slashed by over 50%.

Southern Peru Copper (NYSE: PCU) closed at $18.12 Monday. Copper is recently up 5.31% to 153.65 according to Bloomberg. PCU February option implied volatility of 83 is above its 26-week average of 78, according to Track Data, suggesting larger price movement.

Teck Cominco (NYSE: TCK), a diversified mining company, closed at $6.82 Monday. TCK January 7.5 straddle is priced at $1.60, December 7.5 straddle is priced at $2.60. TCK February option implied volatility of 121 is above its 26-week average of 110 according to Track Data, suggesting larger share price movement.

Freeport McMoRan (NYSE: FCX) closed at $28.22 Monday. FCX, the world's second-largest copper producer, is expected to report Q4 EPS in mid January. February call option implied volatility is at 87, puts are at 84; near its 26-week average according to Track Data, suggesting non-directional price movement.

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

On today's STOP TRADING segment on CNBC, Jim Cramer said you need to look at the smaller sub-$5 Billion stocks in the metals sector since it looks like the huge mergers in the group may have happened. Two names he gave were Teck Cominco Ltd. (NYSE:TCK) and Lundin Mining (NYSE:LMC). He still maintains that Alcoa Inc. (NYSE:AA) will not be a public company next year, despite the 3% drop today on word that BHP Billiton (NYSE:BHP) is not going to acquire it.

We'll see if this really ends up being the case if Alcoa ends up being acquired. These huge metals companies may not be quite as easy to acquire as some pundits think, even if a billion dollars isn't worth anything compared to what it once was. Lundin was one of those lesser known and lesser followed metals stocks we reviewed in May as an overlooked metals stock when shares were at $12.70 or so.

Jon Ogg is a partner at 24/7 Wall St.; he does not own securities in the companies he covers.