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Hawk’s Nest

Metals and Mining Sector Sees Unusual Opening Put Sale

by | Jan 30, 2023

Metals & Mining (XME) unusual trade sells to open 3000 September $55 puts at $4.40 as the ETF is already up +13% for the month of January and clearing yearly value area highs of 54.50 so a confident bull here thinking prices stay abvoe 55 for much of the first half of 2023 and is willing to own stock at current levels minus the $4.40 credit received. The ETF’s top holdings in order of weight include CLF, AA, FCX, CMC, NEM, RGLD, UEC, X, NUE, RS, HL, STLD, BTU, AMR, ATI. With metals like copper and gold showing fantastic trends the past few months this could be a sign thats got a lot further to go and pullbacks to support levels should be looked at as opportunities to buy.