Unusual heavy activity in Chesapeake
Chesapeake Energy is seeing large and unusual option activity today.
CHK is down 2.12 percent this afternoon to $14.34 after hitting a three-year intraday low of $14.27 earlier in the session. Shares of the struggling natural-gas company have been losing ground in the last two months from levels above $26 as the company faces controversies involving CEO Aubrey McClendon.
optionMONSTER's systems first detected the purchase of 12,500 July 13 puts for the ask price of $1.50 this morning. Seconds later, 25,000 July 9 puts were sold for the bid price of $0.55. The previous open interest at each strike was fewer than 6,000, so this was a new ratio spread....MORE