Duke Energy Sees 'Extremely Unusual' Options Action
Duke Energy is seeing extremely unusual call activity as its shares reach multi-year lows.
More than 33,000 calls traded at the April 12.50 strike against open interest of just 784 contracts by mid-afternoon Thursday, according to OptionMonster's tracking systems. The huge turnover is more than 15 times the average daily volume.
DUK stock ended Thursday down 3 percent to $12.04, having fallen from $16 in just the last month. (The shares gained 1.66 percent as of this writing Friday.) Traders may believe that Duke and other energy names are approaching a bottom at these levels.
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Jon 'DRJ' Najarian is a professional investor, CNBC contributor, and cofounder of OptionMonster.com.