Roughly one month ago, the price of a gold futures contract expiring in December was trading at just above $1,200 per ounce. In the past few days a so-called “bear raid” on the gold market in general has driven its price down close to $1,080.
Option traders were clearly not set-up for a more than 30% surge in shares of Kraft (Ticker: KRFT) following a deal to merge the company with Heinz (Ticker: HNZ) to create The Kraft Heinz Co. On Tuesday, shares in Kraft closed at $61.33.
News that 148 passengers and crew were feared died following the crash of a Germanwings flight in a remote area of Southern France sent shares in Lufthansa (Ticker: LHA) down by about 3%. Germanwings is the low-cost subsidiary of Lufthansa, and shares in other budget carriers fell in sympathy.