HotPennyStockNews.com is devoted to fetch you the most exclusive stocks in the market today. Apart from scanning the markets for the most underrated stocks. We propel those victors directly to your email inbox first ahead of the rest of the marketplace gets a prospect.
Los Angelas, CA -- (SBWIRE) -- 01/04/2013 -- DryShips Inc. (NASDAQ:DRYS) yesterday, with overall option volume ramping up to roughly six times the expected level. All told, a total of 9,243 calls and 936 puts changed hands on DRYS during the course of Thursday's session, with traders paying particular attention to the March series of options.
Specifically, the day's most active strike was the March 2 call, where 7,069 contracts were exchanged. Most of these calls traded near the ask price, suggesting they were purchased, and open interest at this strike surged overnight by 5,865 contracts. In other words, it looks like speculative players bought to open a new batch of calls on DRYS.
These back-month options were exchanged at a volume-weighted average price (VWAP) of $0.13, which means call buyers need DRYS to rally above breakeven at $2.13 (strike price plus VWAP) before March-dated options expire.
The stock is on the right track so far, adding about 11% to trade near $1.92 at last check. In fact, DRYS is currently on pace to collect a daily close above its 50-day moving average for the first time since Nov. 6. However, the shares still need to rise another 11% before Thursday's call buyers will begin to see profits.
How Should Investors Trade DRYS Now? Find Out Here
Neither HotPennyStockNews.com nor its owners, operators, affiliates or anyone disseminating information on its behalf is registered as an Investment Advisor or broker dealer in any jurisdiction whatsoever and none of the information provided by HotPennyStockNews.com, owners, operators, affiliates or anyone disseminating information on its behalf should be construed as investment advice or an investment recommendation. HotPennyStockNews.com makes no recommendation that the securities of the companies profiled should be purchased, sold or held by individuals or entities that learn of the profiled companies through HotPennyStockNews.com. Investing in securities is speculative and carries a high degree of risk and no investment should be made unless you can afford to lose your entire investment. It is possible that an investor's entire investment may be lost or impaired due to the speculative nature of the companies profiled. Please consult a broker before purchasing or selling any securities viewed on or mentioned herein..
Copyright © 2005-2013 - SBWire, The Small Business Newswire - All Rights Reserved - Important Disclaimer
Contact Us: 888-4-SBWIRE (US) - 920-321-1250 (International)