Calls Sold on New Gold (NGD)

Shares of New Gold Inc NGD are lower on the session by 1.08%, currently trading $5.50. The stock has been running higher along with the price of gold, though the stock has begun to test the 50-day moving average. Options action in the name is favoring call sales. The November $5.00 call was sold 1,350 times today; open interest on the strike is 1,427 contracts, which suggests that a long call holder is selling out of their position. New Gold Inc. is an intermediate gold producer with a portfolio of global assets in the United States, Mexico, Australia, Canada, Chile and Brazil.