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Strategies & Market Trends : Canadian Options

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To: Porter Davis who wrote (410)5/6/1997 7:34:00 PM
From: kajtek   of 1599
 
Porter. I am very curious who was buying today's Bre-x calls. It is strange to see volume over 1000 contracts traded of May 5 calls at prices 1-3 cents. But 9 contracts of June 25 at one cent is beyond my understanding. First who bothers to sell 9 contracts for 9 dollars. It cannot be a small investor because commission would cost more. Second who buys even for 9 dollars plus commission option of a stock that trades at 8 cents with strike 25 dollars. Implied volatility must be over milion :-) Was there a stock ever in the history that traded at 6 cents and there were options written on it? Just curious.
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