| Ultra Petroleum draws bearish trade | |
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Ultra Petroleum has been trying to rebound in recent months, but today's option trading shows caution.
optionMONSTER's Depth Charge program detected the purchase of 2,394 June 11 puts for the ask price of $1.05 this morning. This appears to be a new position, as volume was well above the strike's previous open interest of 1,151 contracts.
Long puts lock in the price where the stock can be sold no matter how far it might drop, gaining value in a selloff. Today's contracts could have been purchased either as an outright bearish bet or a hedge on a long position, but they will expire worthless if shares remain above $11 through mid-April. (See our Education section)
UPL is up 0.79 percent to $15.30 this morning, reversing from earlier losses. The oil and gas producer is up some 15 percent so far this year but still down about 40 percent in the last 12 months.
Total option volume in the name already exceeds its full-session average for the last month. Overall puts are outnumbering calls by 22 to 1.
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Ultra Petroleum Inc
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CODE : UPL |
ISIN : CA9039141093 |
CUSIP : 903914109 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Ultra Petroleum is a oil producing company based in United states of america. Ultra Petroleum is listed in Germany and in United States of America. Its market capitalisation is US$ 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. |