Chesapeake Energy, Transocean, Apache News Today

Chesapeake Energy Corporation (CHK), Transocean LTD (RIG), and Apache Corporation (APA) are making headlines today

Feb 23, 2017 at 9:52 AM
facebook X logo linkedin

U.S. stocks are higher, as traders digest comments of "very significant" tax reform. Among specific equities in focus today are oil-and-gas stocks Chesapeake Energy Corporation (NYSE:CHK), Transocean LTD (NYSE:RIG), and Apache Corporation (NYSE:APA). Here's a quick look at what's driving CHK, RIG, and APA shares.

Chesapeake Energy Pops On Rig Count Expectations

CHK is up 2.5% at $6.07, after the energy company announced quarterly earnings within expectations, and said it expects to see climbing rig counts in 2017. CHK has climbed more than 125% year-over-year, though recent rally attempts have stalled near the $8 mark, which is about a 26.3% Fibonacci retracement of CHK's 2014 highs to 2016 lows. Chesapeake Energy Corporation options bulls are likely celebrating today's jump, with CHK's 10-day call/put volume ratio International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) sitting in the 95th percentile of its annual range, with 8.46 calls bought to open for every put option.

Transocean Lifted After Earnings Beat

RIG is up 5.1% at $13.96, after Transocean Ltd delivered earnings that came in ahead of expectations. RIG is up 53% from its early November lows, and is poised to topple its 20-day moving average for the first time in more than a month. Near-term option players have been more call-skewed than usual toward the shares, with RIG's Schaeffer's put/call open interest ratio (SOIR) of 0.85 sitting in the bottom 10% of its annual range.

Apache to Raise Spending

APA is down 4.4% at $52.54, after the company reported a steeper-than-expected quarterly loss, and said it plans to increase spending more than 60% in 2017, to take advantage of current oil prices. APA is down 23.8% from its December highs, and is set to close its mid-September bull gap. Options players were betting on more upside for the shares, with Apache Corporation's 10-day ISE/CBOE/PHLX call/put volume ratio showing 3.66 calls bought to open for every put, a reading that sits just 9 percentage points from an annual peak.

Get a jump-start on the day's stock market news with Schaeffer's free Opening View newsletter.


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 calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI