A customer sold 10,000 of the CHK Jan 16/15 put spreads collecting .09 on the trade.? This is against open interest of 34,000 contracts.? The trade appears to be an opening trade despite the volume, as there have not been any put spreads that have traded in this product in the last two months on those strikes.? If the customer is taking the trade off, the initial put spread was legged.? More likely, the customer is attempting to collect an easy .09 yield in a week.? The trade will lose if CHK drops below 15.91.
Chesapeake Energy Corporation engages in the acquisition, exploration, development, and production of natural gas and oil properties in the United States.