| What's behind Cabot Oil & Gas puts | |
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Traders are positioning for more potential downside in Cabot Oil & Gas.
More than 2,600 October 20 puts were purchased for $0.60 to $0.70 this morning, according to optionMONSTER's Depth Charge tracking program. This represents fresh buying, as open interest in the strike is just 286 contracts.
Long puts lock in the price where a stock can be sold no matter how far it might drop, gaining value in a selloff. The contracts can be purchased either as an outright bearish bet or a hedge on a long-stock position. (See our Education section)
COG is down 0.48 percent to $22.67 in early trade. The oil and gas producer fell to $21 as the broader market sold off two weeks ago but has since settled into a range mostly between $22 and $24.
The company has not scheduled its next earnings report, but last year's calendar suggests that results will come out a week after today's puts expire.
With today's put buying, total option volume in the name is already 4 times its full-session average for the last month.
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Cabot Oil & Gas Corporation
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CODE : COG |
ISIN : US1270971039 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Cabot Oil & Gas is a oil exploration company based in United states of america. Cabot Oil & Gas is listed in Germany and in United States of America. Its market capitalisation is US$ 10.2 billions as of today (€ 9.0 billions). Its stock quote reached its lowest recent point on March 26, 2004 at US$ 10.00, and its highest recent level on January 14, 2022 at US$ 22.20. Cabot Oil & Gas has 460 786 236 shares outstanding. |