Whiting Petroleum - Market Review

Posted on 11/16/2012 by Allen Bersch

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NEW YORK (AVAFIN) -- Whiting Petroleum options contracts experienced a new 90-day record for call contracts where a total of 8,171 call contracts were traded in the busy trading session. The contract spread yielded a 0.52 put/call ratio where 1.9 call contracts were traded for each put contract.

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Options can be used as predictors of stock behavior. Investors can use put/call ratios as technical indicators to read for signs of institutional sentiment. The put/call ratios offer insight to investors and can be used as either a direct or contrarian indicator for trading decisions. Unusual volume provides reliable clues that the stock is expected to make a move.

The Bakken/Three Forks system is one of the earliest and most attractive unconventional resource basins in the U.S., with multiple producing horizons, a developing infrastructure, and a production profile heavily weighted toward oil and liquids-rich gas. With over 700,000 net acres under long-term, low-cost leases, Whiting should remain a leading player in this region for the foreseeable future. The firm's expanded presence here should also help ensure access to services and insulate against cost inflation pressure to some degree. Additionaly, Whiting's unconventional oil expertise should come in handy as the firm expands its exploratory and developmental efforts across newly acquired acreage in the Bakken/Three Forks, Niobrara Shale, and Permian Basin regions.

Shares of Whiting Petroleum settled at $43.06, up $0.23 (+0.54%) in the last trading session. The shares of the stock had an intraday low of $42.07 and high of $43.19. Performance indicators show that the stock has lost -1.59% within the last week. The stock's 52 week low is $35.68 and 52 week high is $63.97.

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