Large Block of Puts Bought on Northern Dynasty Minerals (NAK)

Shares of Northern Dynasty Minerals NAK are lower on the session by 3.18%, currently trading at $16.46. The stock has been moving largely higher over the past six months and is currently trading above the 50-day and 200-day moving averages. Options traders are buying puts on the name today. A short while ago the February $15.00 put was purchased 4,825 times, on the offer, for $0.85 on open interest of only 57 contracts. This signals new positioning on the name. Overall put volume is now running at 26.17x the daily average with 96% of all puts traded being purchases on the offer. Northern Dynasty Minerals Ltd. is a Canada-based company engaged in the exploration of mineral properties. The company owns a 50% interest in the Pebble Limited Partnership. The Pebble Partnership owns the Pebble Copper-Gold-Molybdenum Project, the company's principal mineral property interest located in Alaska, United States of America.