Nabor’s (NBR) is down 26 cents to $20.37 and has suffered a two-day 6 percent drop after UBS lowered price targets on the oil drillers and removed its short-term buy rating on NBR yesterday. In the options market, looks like some investors are bracing for further fallout and buying April puts early Friday. 19s are the most actives. 5560 traded (100 percent Ask) vs. 856 in open interest.
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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.