Goodrich Petroleum Corp. (GDP), a Houston, TX oil and gas company, fell 33 cents to $24.91 and Sep 25 and 22.5 puts saw action Friday, with a combined 2700 contracts traded. In addition, with 95 percent of the trades hitting ask-side and open interest in GDP puts increasing by 3,265, it looks like some investors bought Sep puts to open new positions, which seems unusual because the contract comes off the board at the end of this week.
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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.