Silver Standard Resources (SSRI) Options Activity Soaring Before Earnings Report

With expectations high across the silver sector, options activity and the share price of Silver Standard Resources (NASDAQ:SSRI) before its earnings report Wednesday morning.

Traders acquired close to 5,400 March 30 calls for $0.25 to $0.30 and 1,400 March 28s for $0.65 to $0.80 Monday, according to OptionMonster's real-time tracking systems.

While the activity in the stock slowed down on Tuesday, it was about six times the 3-month average on Monday.

With one of the mines of Silver Standard about to begin production, it appears traders are employing front-month options to play a move.

Silver Standard Resources was trading at $28.07, gaining $0.94, or 3.43 percent, as of 1:58 PM EST.