Equinox Gold Options Bet Nets Quick 170% Gain on Earnings Beat

An investor who bought 6 million shares worth of Equinox Gold Corp. call options Tuesday more than doubled their money after the Vancouver-based miner’s earnings beat estimates, sending shares soaring by the most since 2022.

A block of 60,000 October $7.50 calls traded midday Tuesday for $0.30 each, for a total $1.8 million in premium, with market participants noting that an investor was buying the contracts.

Read more: Bullish Mining Plays on Barrick, Equinox: US Options Snapshot

The options closed at $0.81 Thursday after shares soared 15%. The company reported a 78% jump in revenue from a year earlier ...