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  • Strange Things Afoot In SandRidge Options 1 comment
    Feb 20, 2013 2:01 AM | about stocks: SD

    Maybe just a profit-taker after a quick run-up from $5.60, but on a nicely up day with SandRidge (NYSE:SD) closing at $6.01 both the nearest dated $6 and $7 strikes saw significant volume exiting, and the $6 strike went from out of the money to in the money - usually the most profitable day a call option can have:

    (click to enlarge)

    (click to enlarge)

    Maybe a chance to buy the calls, maybe somebody knows something, but those calls should have made nice gains for holders today, hmm..

    Disclosure: I have no positions in any stocks mentioned, but may initiate a long position in SD over the next 72 hours.

    Themes: Options Stocks: SD
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  • Valueplay98
    , contributor
    Comments (580) | Send Message
     
    Less than 10% of the open interest traded (not that much in the grand scheme of things) ... could have been a covered call seller ?

     

    I guess we'll know more when looking at open interest tomorrow.
    20 Feb 2013, 03:42 AM Reply Like
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