This 6,000 options on the July 30 strike has my curiousity up. It may be a fluke. Two website show another 6,000 options traded today. BUT when I check scottrade, it only show 6000 interest, and no volume today.
I predicted $49.50 as my target for today. It may hit it. It is going be hard to break through it though.
Is this the bottom? Your guess is as good as anyone. But we are getting a decent rise today which is a relief and the macroeconomic news could reverse the trend. Regardless I maintain that there is good value in BHI sub-50. Its a safe stock with a decent dividend which is more than can be said for many of its peers. I think the next quarter results will determine whether we decouple from US NG prices, since we also drill oil wells, and move beyond the 53/54 barrier. Also BHI is an international company and global rig count is on the increase. Poland today has given the go ahead for shale drilling. But there is still a lot of uncertainity from the US operations perspective - the incident last week with the guys given their marching orders (even before being given contracts) shows that the drillers cannot gauge how low US NG prices will go yet.
Next leg up, looking for $49.50 by end of day Friday or next week.
No big action on options, I gave a shot at Mar $50 options. I was amazed, astounded, shock how they played out last month. I even put a message up on the board "Who would buy $50 options one week before expiration and $2 to go" Well they did go, and made that person 500%.