Investors with a lot of money to spend have taken a bearish stance on Comstock Resources CRK.
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether this is an institution or just a wealthy individual, we don't know. But when something this big happens with CRK, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 9 options trades for Comstock Resources.
This isn't normal.
The overall sentiment of these big-money traders is split between 11% bullish and 88%, bearish.
Out of all of the options we uncovered, 8 are puts, for a total amount of $671,577, and there was 1 call, for a total amount of $77,500.
Expected Price Movements
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $8.0 and $10.0 for Comstock Resources, spanning the last three months.
Analyzing Volume & Open Interest
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Comstock Resources's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Comstock Resources's significant trades, within a strike price range of $8.0 to $10.0, over the past month.
Comstock Resources Call and Put Volume: 30-Day Overview
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CRK | PUT | SWEEP | BEARISH | 05/17/24 | $0.5 | $0.4 | $0.48 | $9.00 | $218.2K | 69 | 5.0K |
| CRK | PUT | SWEEP | BEARISH | 09/20/24 | $0.65 | $0.55 | $0.6 | $8.00 | $183.5K | 349 | 3.0K |
| CRK | PUT | SWEEP | BEARISH | 09/20/24 | $0.6 | $0.45 | $0.6 | $8.00 | $90.0K | 349 | 4.5K |
| CRK | CALL | TRADE | BULLISH | 01/17/25 | $1.6 | $1.45 | $1.55 | $10.00 | $77.5K | 6.2K | 653 |
| CRK | PUT | TRADE | NEUTRAL | 01/17/25 | $0.95 | $0.85 | $0.9 | $8.00 | $45.0K | 2.2K | 501 |
About Comstock Resources
Comstock Resources Inc is an independent energy company operating in the Haynesville shale, a natural gas basin located in East Texas and North Louisiana with superior economics and geographical proximity to the Gulf Coast markets. The Company operates in one business segment, the exploration and production of North American natural gas and oil. It is engaged in the acquisition, development, production, and exploration of oil and natural gas. Its oil and gas operations are concentrated in Louisiana and Texas.
Having examined the options trading patterns of Comstock Resources, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Current Position of Comstock Resources
- Currently trading with a volume of 2,346,263, the CRK's price is up by 1.62%, now at $9.43.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 29 days.
What Analysts Are Saying About Comstock Resources
In the last month, 2 experts released ratings on this stock with an average target price of $8.5.
- Maintaining their stance, an analyst from Mizuho continues to hold a Underperform rating for Comstock Resources, targeting a price of $9.
- Maintaining their stance, an analyst from Piper Sandler continues to hold a Overweight rating for Comstock Resources, targeting a price of $8.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Comstock Resources, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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