MP Materials Options Traders See Stock Jumping This Much By December Expiration
Portfolio Pulse from Lisa Levin
MP Materials Corp. (NYSE:MP) shares traded higher after China announced restrictions on germanium and gallium, lifting rare earth metals companies outside of China. There were 4x more calls than puts on MP Materials on Wednesday, with traders expecting the shares to surge at least 30% by December. MP Materials shares rose 6% to close at $24.55 on Wednesday, and added 2.7% in today’s pre-market trading session.
July 06, 2023 | 12:26 pm
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MP Materials shares are expected to surge at least 30% by December due to China's restrictions on germanium and gallium. The shares rose 6% to close at $24.55 on Wednesday, and added 2.7% in today’s pre-market trading session.
China's restrictions on germanium and gallium have lifted the shares of rare earth metals companies outside of China, including MP Materials. This has led to a surge in calls for MP Materials, indicating a bullish sentiment among traders. The expectation of a 30% surge in the shares by December further supports this bullish outlook.
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