| Calls bet on pop in ConocoPhillips | |
| | |
|
Short-term traders are looking for shares of ConocoPhillips to gain through the end of next week.
More than 5,700 Weekly 50 calls expiring on Oct. 9 were purchased mostly for $0.30 to $0.51 this morning, according to optionMONSTER's Heat Seeker tracking program. This represents fresh buying, as open interest in the strike was just 871 contracts. EPS expected late this month.
These long calls lock in the price where the stock can be purchased, gaining with a rally and providing leverage to the underlying shares. But the contracts will quickly lose value if the stock stalls or pulls back by expiration a week from today. (See our Education section)
COP is up 2.53 percent to $49.38 in midday trading but is still down some 30 percent on the year. The oil and gas producer has beaten earnings estimates but fallen short on revenue expectations consistently for the last several quarters. Its next results are expected to come out later this month, well after today's calls expire.
Overall option volume in the name tops 16,000 today, well above its full-session average for the last month. Total calls are eclipsing puts by more than 2 to 1.
More From optionMONSTER
|
|
|
ConocoPhillips
|
|
|
CODE : COP |
ISIN : US20825C1045 |
|
| |
ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
ConocoPhillips is a producing company based in United states of america. ConocoPhillips is listed in Germany and in United States of America. Its market capitalisation is US$ 152.4 billions as of today (€ 143.2 billions). Its stock quote reached its lowest recent point on December 31, 1991 at US$ 10.94, and its highest recent level on April 19, 2024 at US$ 129.49. ConocoPhillips has 1 177 107 000 shares outstanding. |