Option bulls pile into Weatherford calls


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Option traders are piling into calls on Weatherford International ( WFT ) Monday. More than 23,000 contracts of the April 6.50 call have changed hands so far today, against no open interest. The volume is predominantly on the ask side of the spread, indicating that these new contracts are being purchased.

InvestorsKeyhole Trade Alert

IK-> The technicals for WFT ($6.18 up 0.03) are bullish with an upward trend. The stock has support about $6.00. Look at the June 3/5 bull-put spread for a 20-cent credit. That's an 11.1% return and the stock has to fall by 19.1% to cause a problem. [InvestorsKeyhole, various news and data services]

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Originally published on InvestorsObserver.com



This article appears in: Investing , Options


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