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A large trade is positioning for a pullback in Consol Energy as shares try to climb off 52-week lows.
optionMONSTER's Depth Charge system detected the purchase of 5,000 March 28 puts for $0.49 to $0.55 this morning, including a single print of 4,066. Open interest in the strike was just 383 contracts before the trade appeared, showing that it is a new position.
These puts lock in the price where the stock can be sold no matter how far it might drop, gaining value in a selloff. They could have been purchased either as an outright bearish bet or a hedge on a long position, but either way they will expire worthless if shares remain above $28 through mid-March. (See our Education section)
CNX is up 0.25 percent to $32.34 in early trading. The natural-gas and coal company fell to a 52-week low of $28.51 after reporting quarterly results on Friday but bounced this week with the rest of the energy sector.
Today's put buying makes up almost all of the option volume in Consol, which is already almost double its full-session average for the last month. Only 112 calls have changed hands so far.
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Consol Energy Inc.
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PRODUCTEUR |
CODE : CNX |
ISIN : US20854P1093 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Consol Energy est une société de production minière basée aux Etats-Unis D'Amerique. Consol Energy est productrice de charbon en USA, et détient divers projets d'exploration en USA. Son principal projet en production est BUCHANAN en USA. Consol Energy est cotée aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 5,3 milliards US$ (5,0 milliards €). La valeur de son action a atteint son plus haut niveau récent le 06 juin 2008 à 99,79 US$, et son plus bas niveau récent le 26 avril 2019 à 10,00 US$. Consol Energy possède 223 758 284 actions en circulation. |