Traders bets on Cameco Corp.
Cameco Corp. (CCJ) is on the receiving end Tuesday of a big options bet. So far, 22,641 contracts of the June 16 call have changed hands, against open interest of 49 contracts. Pricing on today’s trades indicates that these new contracts were opened from the buy side.
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About Cameco Corporation
Cameco is one of the world's largest uranium producers. When operating at normal production, the flagship McArthur River mine in Saskatchewan accounts for roughly 50% of output in normal market conditions. In recent years, the company has reduced production in response to weak uranium markets. In the long term, Cameco has the ability increase annual uranium production by restarting shut mines and investing in new ones. In addition to its large uranium mining business, Cameco operates uranium conversion and fabrication facilities.