Weatherford (WFT) adds 3 cents to $21.83 and 15,000 calls traded in the name, which is about 10X the day’s put volume. The focus is on the April 22 and 23 calls, which have traded 4300 and 4900X, respectively. Both contracts are out-of-the-money and expire at the end of this week. Short-term players are active in the name today after an FBR note suggested that WFT is an M&A candidate (Briefing).
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.