| Put buyers hitting Encana in volume | |
| | |
|
Many energy names are rebounding today, but traders are positioning for more downside potential in Encana.
optionMONSTER's Depth Charge monitoring system detected the purchase of more than 9,000 February 4 puts for $0.30 to $0.35 today. This is fresh buying, as there was no open interest in strike before the trades appeared.
Long puts lock in the price where a stock can be sold, so they make money to the downside. Investors use them to hedge long positions or to speculate on a drop. (See our Coaching section)
ECA is down 4.67 percent to $4.69 in afternoon trading and is down 39 percent in the last month. The natural-gas and oil producer is expected to announce quarterly results on Feb. 25.
Overall option volume is 11 times its daily average, with puts outnumbering calls by a bearish 13-to-1 ratio.
More From optionMONSTER
|
|
|
Encana Corporation
|
|
EXPLORATEUR |
CODE : ECA.TO |
ISIN : CA2925051047 |
|
| |
ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Encana est une société de production minière de pétrole et de gaz basée au Canada. Encana détient divers projets d'exploration au Canada. Son principal projet en exploration est BUFFALO HILLS au Canada. Encana est cotée au Canada et en Allemagne. Sa capitalisation boursière aujourd'hui est 4,8 milliards CA$ (3,7 milliards US$, 3,3 milliards €). La valeur de son action a atteint son plus haut niveau récent le 23 novembre 2018 à 9,99 CA$, et son plus bas niveau récent le 24 janvier 2020 à 4,96 CA$. Encana possède 973 120 000 actions en circulation. |