Strangle Sold on Barrick Gold (ABX)

Shares of Barrick Gold Corp. ABX are higher on the session by 1.99%, currently trading at $45.17. The stock has been moving largely higher over the past three weeks and is now nearing resistance at $45.00. On options traders believes that the stock will not see a large move from these levels over the next few weeks. The September $43/46 strangle was sold 4,000 times for $1.94 a short while ago. Implied volatility is flat in the name today, at 32%. Its 52-week vol range is 52% on the topside and 30% on the lowside. Barrick Gold Corporation is engaged the production and sale of gold, as well as related activities, such as exploration and mine development. Barrick also produces copper, and hold interests in oil and gas properties located in Canada. Its producing mines are concentrated in four regional business units: North America, South America, Africa and Australia Pacific.