Dryships (DRYS) loses 6 cents to $2.31 and a 4772-lot of Jan 2014 $2 puts trades on the stock for 56 cents when the market was 50 to 56 cents. Looks like an opening buyer. 5,001 now traded against 442 in open interest. The contract is 13.4 percent out-of-the-money and expiring in 148 days. Dryships peer PRGN is out with earnings today. EPS numbers were better-than-expected, but revenues down nearly 50 percent year-over-year and below expectations.
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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.