Today we purchased the JAN09 Call options at a strike price of $10.00 for $1.00 per contract for the Hecla Mining Company. As we can see from the chart the stock appears to be oversold having been sold down from the $13.00 level to close at $8.28 today.
Taking a quick look at the chart for silver we can see that silver appears to have found support at the $16.50 level and should be further supported by the rising 200dma. The technical indicators are turning positive which could result in a shot-term rally, hopefully boosting Hecla along the way. Read more.