| What's behind Cabot Oil & Gas puts | |
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Traders are positioning for more potential downside in Cabot Oil & Gas.
More than 2,600 October 20 puts were purchased for $0.60 to $0.70 this morning, according to optionMONSTER's Depth Charge tracking program. This represents fresh buying, as open interest in the strike is just 286 contracts.
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)
COG is down 0.48 percent to $22.67 in early trade. The oil and gas producer fell to $21 as the broader market sold off two weeks ago but has since settled into a range mostly between $22 and $24.
The company has not scheduled its next earnings report, but last year's calendar suggests that results will come out a week after today's puts expire.
With today's put buying, total option volume in the name is already 4 times its full-session average for the last month.
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Cabot Oil & Gas Corporation
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CODE : COG |
ISIN : US1270971039 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Cabot Oil & Gas est une société d’exploration minière de pétrole basée aux Etats-Unis D'Amerique. Cabot Oil & Gas est cotée aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 10,2 milliards US$ (9,0 milliards €). La valeur de son action a atteint son plus bas niveau récent le 26 mars 2004 à 10,00 US$, et son plus haut niveau récent le 14 janvier 2022 à 22,20 US$. Cabot Oil & Gas possède 460 786 236 actions en circulation. |