In fact, DRYS saw call volume of 5, 568 contracts compared to put volume of only 1, 356 contracts.
FORBES: DryShips Inc. Earnings: Analysts, Options Traders Bullish
Since the beginning of February, DRYS has rallied nearly 60%, but all this buying has overextended the stock.
FORBES: DryShips Bulls Face Buying Fatigue Ahead of Earnings
Specifically, DRYS has attracted five Buy ratings, five Holds, and one Sell rating.
From a technical standpoint, DRYS has been on fire during the past month.
FORBES: DryShips Inc. Earnings: Analysts, Options Traders Bullish
Bad news also accompanied another big guru buy--Athens, Greece-based DryShips (nasdaq: DRYS - news - people ).
As the economic crisis unfolded, and fuel prices sky rocketed, DRYS stock price went on a journey in the other direction.
Shipping concern DryShips Inc. (DRYS) is scheduled to release its third-quarter earnings report after the close of trading this afternoon.
FORBES: DryShips Inc. Earnings: Analysts, Options Traders Bullish
The major fly in the ointment for DRYS is that it is firmly entrenched under the descending weekly 50 moving average.
The key action that trader should focus on currently is that DRYS may have indeed formed a double bottom at these lows.
DryShips (DRYS) reports its third quarter earnings on Wednesday, November 14, 2012.
Unfortunately for DRYS bulls, this configuration leaves ample room for potential downgrades or price-target cuts in the event of a lackluster earnings report.
FORBES: DryShips Bulls Face Buying Fatigue Ahead of Earnings
For instance, DRYS has seen call volume of nearly 2, 000 contracts so far today, compared to put volume of roughly 750 contracts.
FORBES: DryShips Bulls Face Buying Fatigue Ahead of Earnings
The most active strike on the day is the out-of-the-money DRYS March 4 call, where 938 contracts have traded on open interest of 14, 989 contracts.
FORBES: DryShips Bulls Face Buying Fatigue Ahead of Earnings
Specifically, 422, 281 DRYS shares were bought versus 796, 541 shares sold.
FORBES: DryShips Inc. Earnings: Analysts, Options Traders Bullish
Some of the major players in the sector include Genco Shipping ( GNK), DryShips ( DRYS), Eagle Bulk Shipping ( EGLE) and Star Bulk Carriers ( SBLK).
As such, DryShips (DRYS) will be under an intense microscope when it releases its fiscal fourth-quarter earnings results after the close of trading this afternoon.
FORBES: DryShips Bulls Face Buying Fatigue Ahead of Earnings
DryShips ( DRYS), Eagle Bulk Shipping ( EGLE) and Diana Shipping ( DSX) all eliminated their dividends in the fourth quarter of 2008 while Star Bulk Carriers ( SBLK) slashed its dividend to just five cents per share.
FORBES: BDI Continues To Fall, But Should Value Investors Take Notice?
While shorter term traders will point to the solid run DRYS has put in the past six weeks, including overtaking the daily 50 period moving average, longer term holders of DRYS may want to insist that DRYS pop above the weekly moving average before going long.
应用推荐