Kinross Creates New Gold Giant; Straddles Gor Gold Through GDX ETF

Kinross announced it is buying RedBack Mining for just over $7B today. The combination Kinross Red Back has the potential to be a major force. Kinross' shares have dropped over 5% on the news.

Below are straddles for for GDX (miners) ETF for December, showing that a move of 15% makes the position profitable:

These are for KGC for August and November, computed with the free StraddlesCalc Tool.



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