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Uranium Stocks was created to give investors a diversified look at uranium shares, spot prices, options markets, ore and production, canadian reverses and any other relevant issues that may affect shares prices across the globe.
Huge Cameco Volume Movement
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Cameco (CCJ) traded roughly three times average volume, close to 4 million shares, during the October 21st session. On the 20th it moved over 6 million shares. What triggered the large volume spike?
Most point to a recommendation by Jon Najarian on CNBC. He claims that the option activity on Cameco represents a ‘tell’ and that the stock should be moving higher based on in-the-know institutional investors.
Note the large price and volume movement on the 20th and 21st.
At least short-term options movement supports Najarian’s claim, as the call to put ratio is close to 4-1 for the front month November contract.