NEW YORK (AVAFIN) -- A record number of DryShips call contracts were traded during the busy trading session. There
were 3.4 call contracts traded for each put contract yielding a 0.30 put/call ratio
where 6,790 put and 22,839 call contracts exchanged hands.
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Options are useful tools for predicting the movement of the underlying stock. Put/Call ratio
statistics serve as a useful predictor of investment sentiment, indicating what experienced
investors are doing in preparation for a move of an underlying stock. Thus, unusual volume
provides reliable clues that the stock is expected to make a move.
DryShips, Inc. is engaged in the ownership and operation of drybulk carriers worldwide.
Shares of DryShips edged up $0.44 (+25.43%) to $2.17. The price of the stock ranged
between a low of $1.74 and $2.18 respectively. The trading volume of 28M is above
the 90 day average volume of 3M shares. DRYS is trading above the 50
day moving average. The stock's 52 week low is $1.46 and 52 week high is $3.84. Performance indicators show that the stock has lost -24.78% within the last quarter.