Jason Goepfert

10-14-2020 at 5:32 pm

Daily Report : For the 1st time in months, oil rigs come back online; Traders seem positive on stocks, negative on indexes

To save money, energy companies idled hundreds of rigs over the summer. That has just begun to change as a few come back online. When rig counts plunge then start to recover, it has been a positive long-term sign for energy stocks, but not so much for oil prices.; Over the past few sessions, options traders have been trading calls more heavily than puts on stocks. But on indexes, it's flipped, with more puts than calls. There has never been this extreme of a difference. Other times it seems like traders were hedging their bets with index puts, stocks mostly rose.

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