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5,000 Vertical Call Spreads Trade as Comstock Resource, Inc. (Symbol: CRK) Reaches New 52-week High

5,000 Vertical Call Spreads Trade as Comstock Resource, Inc. (Symbol: CRK) Reaches New 52-week High

OptionWatch:

Posted December 12, 2024 at 11:00 am

Jeff Praissman
Interactive Brokers
CRK

This morning 5,000 Comstock Resource, Inc. (Symbol: CRK) March 21 ’25 20 / 25 vertical call spread traded for $0.80. Both legs were opening trades, and the delta of the spread is 20 equating to 100,000 shares. Looking at the prices of the individual option legs at the time of the trade the investor most likely sold the spread which translates to a bearish outlook, and they will profit from the premium minus commissions if CRK stays below $20.80 at expiration. CRK stock has reached new highs in the past few days so the investor may be looking for a correction in the next three months.

CRK is currently trading at $17.26, above its prior $52-week high of $16.96. CRK has a 52-week low of $7.09.

CRM is currently trading at $17.26, above its prior $52-week high of $16.96. CRM has a 52-week low of $7.09.

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

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5 thoughts on “5,000 Vertical Call Spreads Trade as Comstock Resource, Inc. (Symbol: CRK) Reaches New 52-week High”

  • Anonymous

    So……..which is the correct ticker… ? CRK or CRM ?

    • Interactive Brokers

      Thank you for pointing this out to us. This change should now be reflected in the article. 

  • Shank

    My hoard of CRK becomes LTCGs on 01/23/2025. Should I sell now or then?

  • Roger B. Fox

    I have no idea what you should do but I will point out that according to Earnings Whispers they are reporting on January 29th after the close so there’s a window during which you can get your holding period but before they report. And as usual thanks to Mr Praissman for these fascinating reports!

    • Interactive Brokers

      We hope you continue to enjoy Traders’ Insight!

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The analysis in this material is provided for information only and is not and should not be construed as an offer to sell or the solicitation of an offer to buy any security. To the extent that this material discusses general market activity, industry or sector trends or other broad-based economic or political conditions, it should not be construed as research or investment advice. To the extent that it includes references to specific securities, commodities, currencies, or other instruments, those references do not constitute a recommendation by IBKR to buy, sell or hold such investments. This material does not and is not intended to take into account the particular financial conditions, investment objectives or requirements of individual customers. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.

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Disclosure: Options (with multiple legs)

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