Kodiak seen holding gains at highs
Kodiak Oil & Gas is near lifetime highs, and one large trader is looking for its gains to stick.
optionMONSTER systems detected the sale of 2,000 January 11 puts for the bid price of $0.40. There was no open interest at that strike before the trade appeared, so it is a new position.
The put seller is looking for KOG to stay above $11 through expiration early next year, at which time the $0.40 credit would be booked as the profit. But the trader also carries the risk of having to buy shares if they are below that strike price level. (See our Education section)
KOG is up 1.27 percent to $14.32 this morning. The energy company reached an all-time high of $14.83 on Monday and has not been below $11 since early February.
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