DryShips Inc., Diana Shipping Inc., and FreeSeas Inc Get a Boost from Greece

DryShips Inc. (NASDAQ:DRYS), Diana Shipping Inc. (NYSE:DSX), and FreeSeas Inc (NASDAQ:FREE) are trading higher today after Greece submitted its latest bailout plan

Jul 10, 2015 at 11:15 AM
facebook X logo linkedin

Greece continues to dominate headlines, after the fiscally strapped nation last night submitted a new bailout proposal to its creditors -- who now have until Sunday to accept or reject the terms. Optimism over the new deal has helped lift global markets, and three shipping concerns seeing a much-needed boost from the day's bullish bias are DryShips Inc. (NASDAQ:DRYS), Diana Shipping Inc. (NYSE:DSX), and FreeSeas Inc (NASDAQ:FREE).

  • DRYS is up 1.41% this morning to trade at $0.54. Longer term, it's been a rough road for the stock, which has surrendered almost 82% year-over-year, and hit a record low of $0.49 on Tuesday. In the options pits, speculators have shown a clear penchant for long calls over puts in recent months. In fact, at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), DryShips Inc.'s 50-day call/put volume ratio of 19.90 ranks just 1 percentage point from a 52-week peak.

  • Elsewhere, DSX is 1.8% higher at $7.20, bringing its year-to-date lead to 7.3%. More recently, the shares have been stalling out in the $7.35-to-$7.40 region -- an area that rejected Diana Shipping Inc.'s advances in mid-May. Speculative traders have shown a fondness for puts over calls among options expiring in three months or less. Specifically, the security's Schaeffer's put/call open interest ratio (SOIR) of 1.08 rests higher than 74% of all similar readings taken in the past 12 months. In other words, short-term traders are more put-skewed than usual.

  • Finally, FREE is seeing the biggest percentage gain today -- tacking on 6.4% to linger near $2.88. However, the equity has struggled over the long term, shedding more than 91% of its value in 2015. What's more, the shares bottomed at a record low of $2.12 on June 15. Amid this massive decline, short sellers have been cashing in their bearish bets in droves. Short interest on FreeSeas Inc plunged 77.1% in the latest reporting period, and now accounts for less than 1% of the stock's available float.

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI