Goodrich Petroleum Corporation (GDP) $13.66 -1.66%
Goodrich Petroleum (GDP) loses 25 cents to $13.64 and options volume is running 9X the average daily for the Houston, TX oil and gas company. The action is focused on Jan 17.5 – 20 bearish risk-reversals, which have traded 5000X, mostly on ISE. Looks like $4.45 is being paid to close out positions opened on 7/27 when the same r/r traded multiple times, including 1116 at 70 cents. Shares are down 29.1 percent since that time and it appears the combo is being closed at a substantial loss. It’s unclear if the original trade was tied to stock.
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.
