(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