| Bears are circling ConocoPhillips | |
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The bears are circling ConocoPhillips, even with the energy giant at multi-year lows.
optionMONSTER's Depth Charge monitoring program detected the purchase of almost 33,000 August 52.50 puts for $2.57 to $2.73. Volume was more than 10 times open interest at the strike, which suggests new money was put to work.
Long puts lock in the price where investors can sell a stock, so they make money when a stock falls. They can be used to hedge long positions or to speculate on a drop. Today's activity is probably outright bearish because the puts are in the money . (See our Education section)
COP is up 0.6 percent to $50.01 in afternoon trading. It's down 17 percent in the last month and yesterday touched its lowest price in October 2011. The stock has been sliding lower along with other oil drillers as global supply gluts hammer prices. Management has responded by cutting expenses and capital spending.
The August 52.50s are the fourth-most active option trading in the market today, trailing only contracts in market leader Apple.
Overall volume in COP is quadruple average amounts so far in the session, with total puts outnumbering calls by a bearish 7-to-1 ratio.
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ConocoPhillips
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CODE : COP |
ISIN : US20825C1045 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
ConocoPhillips est une société de production minière basée aux Etats-Unis D'Amerique. ConocoPhillips est cotée aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 153,3 milliards US$ (143,3 milliards €). La valeur de son action a atteint son plus bas niveau récent le 31 décembre 1991 à 10,94 US$, et son plus haut niveau récent le 26 avril 2024 à 130,24 US$. ConocoPhillips possède 1 177 107 000 actions en circulation. |