Ultra Petroleum Corp. (UPL) is a Houston based independent oil and gas company involved in the acquisition and exploration of properties related to the production of oil. At the time of this post (12:20PM CST), UPL is currently trading at 11.99, down 4.77% on the day. The stock is currently pressing its 52 week lows on the heels of continuing declines in the price of oil.

Earlier this morning at around 10:15AM CST, OptionHacker detected and flagged some unusually large bearish options activity in the Mar ’15 11.0 strike puts in UPL. A large lot of 1,250 of these contracts were purchased at the offer for $1.00 against an open interest of just 101 contracts. This relatively large opening transaction would appear to position a trader for further anticipated downside heading into the March ’15 monthly options expiration.

My Trade: I bought the UPL Mar 11 Puts for $1.00
Risk: $100 per 1 lot
Breakeven: $10.00

Andrew Keene


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