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Traders are positioning for more potential declines in Concho Resources.
optionMONSTER's Depth Charge tracking program detected the purchase of 3,500 March 70 puts for $4.20 today. Volume was more than 66 times open interest at the strike, which indicates that new money was put to work.
Long puts lock in the price where a stock can be sold, so they make money to the downside. Investors use them to hedge long positions or to speculate on a drop.(See our Coaching section)
CXO is down 4.7 percent to $77.49 in afternoon trading and has fallen 29 percent in the last three months. The oil and natural-gas producer is estimated to come out with quarterly results after the close on Feb. 24.
Overall option volume in the name is 4 times greater than average so far today, according to the Depth Charge. Puts outnumber calls by a bearish 5-to-1 ratio.
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Concho Resources Inc.
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CODE : CXO |
ISIN : US20605P1012 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Concho Resources is a exploration company based in United states of america. Concho Resources is listed in United States of America. Its market capitalisation is US$ 9.6 billions as of today (€ 7.9 billions). Its stock quote reached its highest recent level on July 05, 2019 at US$ 99.97, and its lowest recent point on January 15, 2021 at US$ 65.60. Concho Resources has 146 059 000 shares outstanding. |