ATP Oil and Gas Corp (ATPG) $5.01 -14.21%
ATP Oil and Gas (ATPG) is down 82 cents to $5.02 on heavy turnover of more than 2 million shares (expected volume after 45 minutes is 278K) and implied volatility in options on the stock is surging on reports CEO Matt McCarroll is resigning after failing to reach a mutually agreeable employment contract. 10,000 puts and 1,500 calls traded in the oil driller. Players are showing the most interest in downside Dec 4 puts and at-the-money Jun 5 puts. However, Dec 2, Sep 3, Jun 4, and Sep 4 puts are seeing interest as well and 30-day ATM vols are up 45 percent, now elevated at 127 percent.
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.
