|Day Low/High||34.00 / 34.89|
|52 Wk Low/High||23.64 / 45.70|
Investors in Resolute Energy Corp saw new options become available this week, for the February 16th expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the REN options chain for the new February 16th contracts and identified one put and one call contract of particular interest.
In trading on Thursday, shares of Resolute Energy Corp crossed below their 200 day moving average of $32.23, changing hands as low as $32.07 per share. Resolute Energy Corp shares are currently trading off about 7% on the day.
Investors considering a purchase of Resolute Energy Corp shares, but cautious about paying the going market price of $34.02/share, might benefit from considering selling puts among the alternative strategies at their disposal. One interesting put contract in particular, is the January 2019 put at the $23 strike, which has a bid at the time of this writing of $2.30.
In trading on Wednesday, shares of Resolute Energy Corp crossed above their 200 day moving average of $32.66, changing hands as high as $33.40 per share. Resolute Energy Corp shares are currently trading up about 2% on the day.
Commodity prices are rising, OPEC is signaling further support for oil prices and U.S. analysts are excited about the outlook of oil stocks in 2018.
Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Resolute Energy Corp , where a total volume of 4,641 contracts has been traded thus far today, a contract volume which is representative of approximately 464,100 underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 65.6% of REN's average daily trading volume over the past month, of 706,995 shares.
In trading on Friday, shares of Resolute Energy Corp entered into oversold territory, changing hands as low as $24.02 per share. We define oversold territory using the Relative Strength Index, or RSI, which is a technical analysis indicator used to measure momentum on a scale of zero to 100.
Here are the activist investor's next potential targets.
The activist will gain $320 million on the sale, which suggests that the fund either doesn't believe a higher bidder is coming or that they need the cash.
The most recent short interest data has been released for the 06/30/2017 settlement date, which shows a 706,149 share decrease in total short interest for Resolute Energy Corp , to 5,827,654, a decrease of 10.81% since 06/15/2015. Total short interest is just one way to look at short data; another metric that we here at Dividend Channel find particularly useful is the "days to cover" metric because it considers both the total shares short and the average daily volume of shares traded.
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