Entered Lundin Mining put option

Before I continued with my research on the copper and zinc price, I took a small position in the put option LUMI6O20 earlier today. This means Lundin Mining is underlying and it matures in 2016, March 18th with an exercise price of 20 SEK. I paid 1,50 SEK per underlying share.

Lunding Mining put option transaction

Below picture shows the underlying share’s 5-day chart and where and when the trade took place.

LUMI execution

And below, roughly 3 month chart with copper price (candles) and Lundin Mining Canadian share price (red line). By the way, it’s a wonderful chart tool they have at www.tradingview.com. I just happened to stumble upon it and I believe I will have to explore it further.

LUMI and copper

Well, we will see how this turns out in time. This time, I went maybe a little too much with my gut feeling, but it becomes so much easier and entertaining to follow when you have a stake in it. I’m after all still exploring these opportunities for my own educational purposes. And this is what the option was trading at by the time the market closed.

LUMI option end first day