Seeking Alpha

Joe Springer's  Instablog

Joe Springer
  • on Retirement
Send Message
We love the royal "we". Email to be added to our free newsletter. Check out our record picking stocks: Please follow us on Twitter and subscribe to our Youtube channel:... More
  • 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
Back To Joe Springer's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (1)
Track new comments
  • 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
Full index of posts »
Latest Followers


More »

Latest Comments

Most Commented
  1. I Am You See (101 Comments)
  2. What Is Tonix Worth? (89 Comments)
  3. Hooked On Tonix (64 Comments)
  4. Seattle Super-Tonix (53 Comments)
  5. Ten-X For Tonix? (45 Comments)
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.