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The Market Vectors Oil Services Fund has bounced with the latest rebound in the price of crude, and one large trade is looking for the momentum to continue.
optionMONSTER's Heat Seeker system shows that 5,413 October 33 calls were bought for $0.69 while the same number of October 25 puts were sold for $0.34. Volume was above open interest in both strikes, showing that this is new positioning.
This combination trade is highly bullish because a rally would boost the price of the long calls while decreasing the value of the puts that were sold . But the opposite will occur if the stock drops, and the trader will be on the hook to buy shares if they fall below $25 by expiration in mid-October. (See our Education section)
OIH rose 0.99 percent to $30.54 yesterday. The stock has gained nearly 10 percent in the last week with the rebound in crude oil but is still down more than 43 percent in the last year. The exchange-traded fund's top two holdings are oilfield servicers Schlumberger and Halliburton, which saw bullish option activity on Tuesday and Aug. 27 respectively.
Yesterday's combination trade pushed total OIH option volume well above its daily average for the last month.
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Prb Energy Inc.
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CODE : PRB |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Prb Energy is a and oil development stage company based in United states of america. Prb Energy is listed in Germany and in United States of America. Its market capitalisation is US$ 214.4 millions as of today (€ 188.5 millions). Its stock quote reached its lowest recent point on April 25, 2008 at US$ 0.10, and its highest recent level on June 28, 2019 at US$ 24.58. Prb Energy has 8 722 000 shares outstanding. |