Diamond Offshore (DO) is down 3 cents to $63.38 and 3,240 Feb 65 calls have trades. Some players are buying premium and hoping to capitalize from the “index effect” after S&P said DO will replace Weatherford (WFT) in the S&P 500. Date to be determined.
About the Author (Author Profile)
Frederic Ruffy is a well-known trader, writer, and strategist who has spent years educating investors and creating intelligent, insightful, unbiased market observations that are frequently cited by the Wall Street Journal and other financial publications. As senior analyst, Fred provides frequent and regular notes and daily updates for activity of interest.