InterOil Corp.  (IOC) Trade Now »     Rate IOC  -  Discuss IOC  -  Add to Watch List        

Think you have tickets to exciting events in Beijing next week? Pray hard. Because with today's photocopying technology, it's awfully hard to tell the real ones from the ones that aren't worth the paper they're printed on.

(And, of course, the look-and-feel test only comes into play if you actually have some physical tickets. Some scam artists don't bother to print them: They just collect your thousands of dollars and tell you to "pick the tickets up in Beijing.")

Since the last time we wrote here about IOC a month ago (May 5), a lot has happened - apart from the share price rallying 30+%. A revisit is warranted. I think that a lot of uncertainty is being taken out as we speak, and the upside is now very, very significant.

It has it all: a gripping story that is about to unfold; a company bold enough to move a whole refinery to the other side of the world; an industry legend billionaire investor taking a 10% stake; a massive natural gas find and now possibly another, even bigger, one; a highly respectable analyst putting a target price four times the market price; disbelievers, believers, a record listing on the regulation SHO list, and, not to forget, a near foolproof way to make money.<!--more-->

Filed under: Options

InterOil Corp (AMEX: IOC) recently up $3.22 to $22.15:

IOC, a Canadian company with operations in Papua New Guinea, today announced a gas and gas liquids discovery in the Antelope structure, in its Elk-4 well. IOC May call option implied volatility was at 84, puts at 111; near its 26-week average of 90 according to Track Data, suggesting non-directional price movement. IOC puts are priced higher than calls because IOC is difficult to borrow.

Volatility Index S&P 500: VIX down 1.61 to 19.11; S&P 500 rallies 1.52%.

Filed under: Ford Motor (F), General Motors (GM), Best Buy (BBY), Family Dollar Stores (FDO), Research in Motion (RIMM)

• InterOil Corporation (AMEX: IOC) to report quarterly earnings; conference call at 8:30am.
• Fed Reserve San Fransisco Bank President Janet Yellen to speak about foreclosures at 12:00pm.