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3,900 Earnings Expiration Calls Trade in Ecopetrol S.A. (Symbol: EC)

OptionWatch:

3,900 Earnings Expiration Calls Trade in Ecopetrol S.A. (Symbol: EC)

Posted September 26, 2024 at 10:00 am
Jeff Praissman
Interactive Brokers
EC

This morning 3,900 Ecopetrol S.A. (Symbol: EC) November 15 ’24 10 calls traded for $0.10 in small lots at the same time. The calls are a 21 delta, so the trade is the equivalent of 81,900 shares of stock. At the time of the trade EC was trading for $8.81. This was an opening trade since the open interest was 2,750 contracts this morning and looking at the National Best Bid, Best offer of $0.10/$0.15 the investor most likely sold the calls.

EC is expected to report earnings between November 5th – 11th so this may be an earnings play speculating that stock will not rise past $10 or a long stock holder trying to bring in extra income by selling upside calls in an earnings month with extra volatility. EC has missed estimates six out of the past eight earnings cycles.

EC has missed estimates six out of the past eight earnings cycles.

Source: IBKR TWS. Past performance is not indicative of future results

EC is currently trading at $8.89. EC has a 52-week high of $11.90 and a 52-week low of $8.46.

Source: IBKR TWS. Past performance is not indicative of future results

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One thought on “3,900 Earnings Expiration Calls Trade in Ecopetrol S.A. (Symbol: EC)”

  • Richard L

    I’m thinking the option was .05 bid at .10. and the buyer bought up the .10’s as trades late in the day were at .15
    However, that’s a guess, I’m not aware of the bid-offer from the morning

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