Puts Purchased on Helmerich & Payne, Inc. (HP)

Shares of Helmerich & Payne, Inc. HP are lower on the session by 0.33%, currently trading at $58.24. The stock has been moving largely lower over the past three weeks and is currently trading below the 50-day moving average. Options traders are buying puts on the name today. Though action has been primarily in small lots, overall put volume is now running at 2.00x the daily average with 92% of all puts traded being purchases on the offer. Helmerich & Payne, Inc. is engaged in contract drilling of oil and gas wells for others. The company's contract drilling business consists of three business segments: U.S. land drilling, offshore drilling and international land drilling. Its United States land drilling is conducted primarily in Oklahoma, California, Texas, Wyoming, Colorado, Louisiana, Mississippi, Pennsylvania, Utah, Arkansas, New Mexico, Alabama, Montana, North Dakota and West Virginia.