Bearish Activity in Ultra Petroleum Corp. (UPL) Hitting OptionHacker

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

Submit a Comment

Your email address will not be published.

Get Our Free Daily Trading Videos

Delivered To your Inbox

By submitting your information you agree to our Terms of Service and our Privacy Policy