Cabot Oil and Gas (COG) adds $4.67 to $60.58 after Canaccord analysts upgraded the stock to Buy from Hold. The firm says that Cabot’s 200K acre property in Susquehanna county is the most product gas asset in North America. Shares are up on the bullish commentary and one strategist sold 10,000 Jan 45 puts at $2 to buy buy 5,000 Jan 70 calls at $3.65. The bullish ratio risk-reversal looks opening and is tied to 670K shares at $59.65.
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.