| What's behind puts in Arch Coal | |
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Arch Coal has rallied hard since trading down to $1 early this month, and traders appear to be protecting those gains.
optionMONSTER's Depth Charge system detected heavy buying in the October 4 puts this morning, with more than 5,000 trading mostly for $1.11 and $1.15. This represents new positioning, as open interest in the strike was just 1 contract before the trades appeared.
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)
ACI is up 28.09 percent to $6.52 in early trade. The coal miner is still down more than 70 percent this year but bounced from its $1 low on Aug. 6 .
Total option volume in the name is already quadruple its full-session average for the last month. Overall puts are eclipsing calls by nearly 2 to 1.
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Arch Coal Inc
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PRODUCER |
CODE : ACI |
ISIN : US0393801008 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Arch Coal is a coal producing company based in United states of america. Arch Coal holds various exploration projects in USA. Its main assets in production are WEST ELK, BLACK THUNDER and JACOB'S RANCH in USA and its main asset in development is SPRUCE N° 1 in USA. Arch Coal is listed in Germany and in United States of America. Its market capitalisation is US$ 366 000 as of today (€ 317 981). Its stock quote reached its highest recent level on June 27, 2003 at US$ 99.96, and its lowest recent point on October 04, 2018 at US$ 0.01. Arch Coal has 36 600 000 shares outstanding. |