Goodrich Petroleum Corporation (GDP) $13.38 +3.96%
Goodrich Petroleum (GDP), a Houston-based oil and gas company, sees a morning run higher and is up 61 cents to $13.48. Options volume is 6.5X the average daily, led by opening buyers of Sep 12.5 calls. The top trade is 1581 at $1.35 per contract on ISE, which is an opening customer buyer, according to ISEE data. 2,500 now traded vs. 249 in open interest. Implied volatility is up 5.5 percent to 57.5. No news in the name to explain the relative strength and bullish options order flow. Earnings were reported two days ago. GDP saw bullish order flow in mid-April on takeover chatter.
Category: All Stocks, Oil & Gas Producers, Small Cap Stocks
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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.
