Weatherford (WFT) with relative strength and high volume today. The stock is up 59 cents to $17.08 on volume of 8.2 million shares, which is almost double the expected volume. Meanwhile, call activity is outpacing put volume by a ratio of ten-to-one, with 52,000 calls and 5,200 puts traded on the oil driller. One player bought 9,000 Mar 17 calls for 75 cents per contract. 24,150 contracts now traded. Mar 18, Mar 19, April 17, April 18 and April 19 calls are seeing interest as well and implied volatility is running 23 percent higher to 47.5. No news on the stock. Earnings expected on Mar 15, which is Thursday afternoon before expiration Friday.
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.