Molycorp (MCP) Moves Higher on Volume; Traders Eye $13 - $13.50 Level
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Shares of Molycorp (NYSE: MCP) are ripping higher Monday, leading the rare earth segment.
Volatility on the stock is up 5.5 points from last Friday's closed and implied volatility is about 68 percent of the trailing annual average.
Molycorp is 6 percent better as shares get aboe $12.50. Traders are keeping an eye on the key $13.50 level, where Molycorp gapped-down on August 3rd following earnings.
Volume on the move today is exceptionally heavy as well, with about 4 million shares trading at 10am EDT.
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Volatility on the stock is up 5.5 points from last Friday's closed and implied volatility is about 68 percent of the trailing annual average.
Molycorp is 6 percent better as shares get aboe $12.50. Traders are keeping an eye on the key $13.50 level, where Molycorp gapped-down on August 3rd following earnings.
Volume on the move today is exceptionally heavy as well, with about 4 million shares trading at 10am EDT.
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