Encana draws vote of confidence
Mike Yamamoto | email@example.com
More than 3,000 ECA October 18 puts were sold today for $0.75 and then $0.70 against open interest of 2,481 contracts as the stock rose off its morning lows, according to optionMONSTER's tracking systems. The short puts represent a bet that the stock will be above $18 at expiration in mid-October.
ECA is down 2.08 percent today to $20.29. The oil and natural-gas company hit a low of $18.46 on June 26, near a support level that goes back to April but has risen since then.
The company is scheduled to release second-quarter results on Wednesday.