Somethings happening with LGL open interest…
December 1st, 2008
I noticed today that open interest for feb09 for LGL has spiked in a few places.
One is LGLP9 Call which has a strike of .01 since friday there has been over 8.5M spent on this call!! To date 10373 open interest reads as someone is seriously thinking that the price is going to be going upward.
As of today 116 have piled on top of LGLG1 which is a Call with a strike of 3.00.
The total open interest on this one is 6654.
Curiously this seems to reflect the idea that gold companies will spike as things get worse economically.
Something to keep an eye on.