Chesapeake Energy Corporation (CHK) Sits Out the Rally

Chesapeake Energy Corporation (NYSE:CHK) is sitting out the rally

Jun 10, 2015 at 2:11 PM
facebook X logo linkedin


Susquehanna lowered its expectations for several energy names today, and for Chesapeake Energy Corporation (NYSE:CHK), this meant a price-target cut to $15 from $18. As the broader market rallies, CHK is taking the (red) road less traveled, down 0.6% at $13.15.

Since touching a 2015 high of $21.49 on Feb. 3, CHK has fallen nearly 39%. More recently, the shares have faced overhead pressure in the form of their descending 10-day moving average, and are now trading south of $14 -- an area that's contained the stock's pullbacks since late 2008. In fact, CHK just touched a three-year low of $12.89 on Friday.

Against this backdrop, traders haven't had to think twice to bet against the stock. For one, CHK's Schaeffer's put/call open interest ratio (SOIR) of 1.46 ranks in the 84th annual percentile, meaning short-term option traders are more put-skewed than normal. Also, short interest accounts for over 21% of CHK's float, which would take more than eight sessions to buy back, at normal trading volumes.

Likewise, today's note from Susquehanna is par for the course for Chesapeake Energy Corporation (NYSE:CHK). Just four out of 20 analysts offer up a "buy" or better opinion.

 

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