| Traders see end to slide in Consol | |
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Traders are betting that Consol Energy will hold its ground after falling to its lowest price in more than a decade.
optionMONSTER's tracking systems show that about 13,000 September 13 puts were sold mostly for $0.40 to $0.61 today. This represents new positions, as open interest in the strike was only 1,899 contracts before the session began.
The traders collect the premium from the option sales and are looking for CNX to stay above $13 through expiration in mid-September. If the stock falls below that strike price, these put sellers will be on the hook to buy shares at that level. Investors sometimes sell puts this way in hopes of picking up a stock at an effective discount to existing levels. (See our Education section)
CNX is up 1.67 percent to $14.63 near midday trading but is still down about 48 percent in the last three months. The natural-gas and coal company bounced off an 11-year low of $11.46 on Aug. 24.
Overall option volume in the name already exceeds 14,500 so far today, double its full-session average for the last month.
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Consol Energy Inc.
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PRODUCER |
CODE : CNX |
ISIN : US20854P1093 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Consol Energy is a producing company based in United states of america. Consol Energy produces coal in USA, and holds various exploration projects in USA. Its main asset in production is BUCHANAN in USA. Consol Energy is listed in Germany and in United States of America. Its market capitalisation is US$ 5.4 billions as of today (€ 5.0 billions). Its stock quote reached its highest recent level on June 06, 2008 at US$ 99.79, and its lowest recent point on April 26, 2019 at US$ 10.00. Consol Energy has 223 758 284 shares outstanding. |