Goodrich Petroleum Corp. (GDP) slipped $1.49 to $23.34 and options volume kicked up to 7X the averge daily on increasing interest in GDP put options Thursday. 4564 contracts changed hands. Jan10 puts at the 15 line saw the biggest increase in open interest (+1545) after 2079 traded (and 95 percent hit ask-side). Looks like opening put buyers possibly bracing for additional losses in shares of the Houston based oil and gas company.
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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.