| Bullish earnings play in NiSource | |
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Traders are apparently looking for NiSource to reach new highs after its next earnings report.
optionMONSTER's Heat Seeker system detected heavy buying in the May 45 calls, where more than 8,900 traded for $0.50 to $0.70 on Friday. These are new positions, as open interest in the strike was just 146 contracts before the session began.
These long calls lock in the price where the stock can be purchased through mid-Mayt no matter how far it might climb. They could be sold earlier at a profit if premiums rise with a rally before then, providing potentially significant leverage, but the contracts will expire worthless if shares remain below $45. (See our Education section)
NI rose 0.57 percent to $43.88 on Friday. The natural-gas company pulled back from all-time highs at $45 in early February but rebounded at the $41 level last month.
NiSource has not announced the date of its next quarterly results, but last year's calendar suggests that numbers will come out late this month or early next.
Friday's May calls made up almost all of the NI option volume in the session, which was 30 times its daily average for the last month. Only 18 puts changed hands in the session.
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Nisource Inc.
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CODE : NI |
ISIN : US65473P1057 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Nisource is a development stage company based in United states of america. Nisource is listed in Germany and in United States of America. Its market capitalisation is US$ 9.5 billions as of today (€ 8.9 billions). Its stock quote reached its lowest recent point on January 04, 1985 at US$ 0.56, and its highest recent level on April 25, 2024 at US$ 28.10. Nisource has 337 410 827 shares outstanding. |