(Bloomberg) -- Earlier this year, someone was
confident that Hydril Co.'s stock was due to take flight --
and very soon. During the two days ended on Friday, Feb. 9,
investors purchased options conveying the right, through Feb.
16, to buy more than 160,000 Hydril shares for $90 apiece.
It was the first time anyone had invested in that
particular option. On its face, the wager looked like a long
shot: The Houston-based oil-drilling-equipment maker's stock
fell 2.3 percent that Friday to $83.04 and had never topped
$90. The shares would have to rise almost 9 percent in a week
before anyone could make money by exercising the options.
Read more at Bloomberg Bonds News
confident that Hydril Co.'s stock was due to take flight --
and very soon. During the two days ended on Friday, Feb. 9,
investors purchased options conveying the right, through Feb.
16, to buy more than 160,000 Hydril shares for $90 apiece.
It was the first time anyone had invested in that
particular option. On its face, the wager looked like a long
shot: The Houston-based oil-drilling-equipment maker's stock
fell 2.3 percent that Friday to $83.04 and had never topped
$90. The shares would have to rise almost 9 percent in a week
before anyone could make money by exercising the options.
Read more at Bloomberg Bonds News
No comments:
Post a Comment