Sandridge Energy Inc (SD) $7.57 -0.62%
Sandridge Energy (SD) loses 6 cents to $7.56 and options volume is 3.5X the average daily, being driven by a buyer of 34,000 Jan 7.5 calls at $1.47 each. The trade was tied to 1.7 million shares at $7.52 and looks opening. The same contract saw interest yesterday as part of a Jan 5. – 7.5 strangle purchase (see 2/3 color). Interestingly, today’s open interest data indicate closing in those calls yesterday, but opening in the Jan 5 puts.
Category: All Stocks, Large Cap Stocks, Oil & Gas Producers
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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.
