The bears are smelling blood, at least in one area of energy stocks.
As a group, the oil service stocks have been a disaster, with the OIH, the ETF that tracks oil service stocks, off some 43 percent from its recent high. Yet, despite the fierce selling, a number of traders continue to wager bearish bets on one oil service stock in particular: Weatherford International.
On Monday, when shares of Weatherford International fell more than 5 percent to a three-year low, and options put volume ran more than nine times its daily average, one trader made a massive bearish bet that the stock will continue to get drilled.
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