Shares of Cabot Oil & Gas (COG) are trading lower on the session by 1.87%, trading at $43.02. The stock has been ticking lower for the past few sessions, today breaking through the 50-day moving average.
An institutional trader is rolling a put position in the name today. Shortly after the opening bell the November $45.00 put was sold 2,000 times, near the bid, for $2.80 and the November $43.00 put was purchased 2,500 times, on the offer, for $1.75.
Given the open interest on both strikes, 2,095 and 190 contracts, this is clearly a case of long puts sold into the stock?s slide with the trader reuping his or her short exposure on a lower strike.
30-day implied volatility is off 3.6% today to 39.29%; 10-day realized vol is registering 22.57%.
Cabot Oil & Gas Corporation is an independent oil and gas company engaged in the development, exploitation and exploration of oil and gas properties.?