Would you suggest buying some Jan 7.5 in the money PUT Options or close the long position and go SHORT on the stock, for an expected pull back below $5.00?
Lowering FY 13 production guidance due to Gulf of Mexico divestiture and 5 days of production shut in as a result of the Permian storm is weighing on the stock.
SEC should investigate the blatant MANIPULATION of this stock trading on a daily basis!
4% Drop with no news, and very Low Volume!
What a CASINO for investment!
Schedule 14A filed a couple days ago.....
"The Board has adopted a resolution approving and recommending to the stockholders for their approval a proposal to amend Article Four of the Company’s Certificate of Incorporation to increase the number of authorized shares of Common Stock from 60 million shares to 110 million shares..."
Benchmark U.S. crude oil for January delivery CLF4 -1.32% tumbled $1, or nearly 1%, to $92.74 a barrel, after a 0.4% loss in Tuesday’s floor trade on the New York Mercantile Exchange.
Following the Nymex close, the American Petroleum Institute reported U.S. crude stocks rose by 6.9 million barrels in the week ended Nov. 22, according to data from sources, confounding expectations for a drop of 1.5 million barrels, according to a Platts survey of analysts.
Price Futures Group senior market analyst Phil Flynn called the API data a “bearish surprise on oil” that “should shake out some bulls” ahead of the Thanksgiving Day holiday on Thursday, and January Nymex crude quickly fell to $93.47 after the report’s release.
FANG is about the right size company to be able to digest a company
the size of Callon. Permian is just "so hot" right now and Callon has put
together some good acreage. Minimal shares controlled by mgt., be interesting
to see if anything happens.