| Ultra Petroleum draws bearish trade | |
| | |
|
Ultra Petroleum has been trying to rebound in recent months, but today's option trading shows caution.
optionMONSTER's Depth Charge program detected the purchase of 2,394 June 11 puts for the ask price of $1.05 this morning. This appears to be a new position, as volume was well above the strike's previous open interest of 1,151 contracts.
Long puts lock in the price where the stock can be sold no matter how far it might drop, gaining value in a selloff. Today's contracts could have been purchased either as an outright bearish bet or a hedge on a long position, but they will expire worthless if shares remain above $11 through mid-April. (See our Education section)
UPL is up 0.79 percent to $15.30 this morning, reversing from earlier losses. The oil and gas producer is up some 15 percent so far this year but still down about 40 percent in the last 12 months.
Total option volume in the name already exceeds its full-session average for the last month. Overall puts are outnumbering calls by 22 to 1.
More From optionMONSTER
|
|
|
Ultra Petroleum Inc
|
|
|
CODE : UPL |
ISIN : CA9039141093 |
CUSIP : 903914109 |
| |
ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Ultra Petroleum est une société de production minière de pétrole basée aux Etats-Unis D'Amerique. Ultra Petroleum est cotée aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 26,6 millions US$ (23,6 millions €). La valeur de son action a atteint son plus haut niveau récent le 13 juin 2008 à 99,39 US$, et son plus bas niveau récent le 07 août 2019 à 0,11 US$. Ultra Petroleum possède 197 100 000 actions en circulation. |