Nabors Industries (NBR) loses 14 cents to $17.70 on heavy volume of 3.4 million shares, or more than double the typical volume for the oil and gas driller. Options action is heating up as well. 18,000 calls and 850 puts traded in the name so far. Feb 19 calls, which are 7.3 percent OTM with 22 days of life remaining, are the most actives. 6,056 traded (73 percent Ask) against 1,153 in open interest. Feb 17, 19, 20 and 21 calls are also seeing interest and implied volatility in the options on the stock is up 18.5 percent to 49. High volume and bullish options action is probably related to BHI-for-NBR takeover chatter (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.