| Even more downside seen for Ultra Petroleum | |
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Ultra Petroleum is down huge, and traders think it will keep falling.
optionMONSTER's Depth Charge monitoring system detected the purchase of 4,200 January 2018 2 puts for $1.00 to $1.05. Volume was more than 66 times open interest at the strike, which indicates new money was put to work.
Puts fix the price where a stock can be sold, so they make money to the downside. (See our Coaching section.) Investors use them to hedge long positions or to speculate on a drop.
UPL rose 3.63 percent to $2.57 in afternoon trading, and has lost more than 90 percent of its value since mid-2014. The company has struggled with falling energy prices and a heavy debt load.
Overall option volume is triple the daily average so far in the session, according to Depth Charge. Puts outnumbered calls by a bearish 23-to-1 ratio.
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Ultra Petroleum Inc
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CODE : UPL |
ISIN : CA9039141093 |
CUSIP : 903914109 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Ultra Petroleum is a oil producing company based in United states of america. Ultra Petroleum is listed in Germany and in United States of America. Its market capitalisation is US$ 26.6 millions as of today (€ 23.6 millions). Its stock quote reached its highest recent level on June 13, 2008 at US$ 99.39, and its lowest recent point on August 07, 2019 at US$ 0.11. Ultra Petroleum has 197 100 000 shares outstanding. |