According to Hoover’s, the firm is one of the leading coal miners in the U.S., producing steam and metallurgical coal at about 45 mining complexes in Appalachia (West Virginia, Kentucky, and Virginia). It produces about 40 million tons of coal annually and controls 2.3 billion tons of proved and probable reserves. Massey’s other operations include 20 coal-handling and processing facilities. Buyers of Massey’s coal include utilities, steelmakers, and industrial manufacturers.
In the Options Spotlight, I shine a light on what’s happening in the options world. In the case of Massey Energy Company, call activity has been brisk on the shares as investors attempt to call a bottom to the security’s downtrend. Has this stock’s decline finally reached an end? For a closer look at Massey Energy Company and its sentiment backdrop, schaeffersresearch.com.
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