EQT Joins S&P 500, Options Traders Glom On

The January 2024 65-strike call was seeing a lot of action

Digital Content Manager
Sep 26, 2022 at 1:59 PM
facebook X logo linkedin

It was announced on Friday that natural gas producer EQT Corporation (NYSE:EQT) will join the S&P 500 Index (SPX), replacing Duke Realty (DRE). This comes amid an index rebalancing, with PG&E (PCG) also set to join the S&P 500 on Oct. 3. EQT also received a price-target hike to $60 from Citigroup on Friday. The equity fell lower Friday, despite the news, stringing on its fourth-straight daily loss. Now, EQT could extend those losses to five, as anxieties over weakening demand plague the energy sector. EQT was last seen down 2% at $40.46.

Despite the recent drop in shares, EQT still boasts a 102% year-over-year lead, and an 85% year-to-date lead. The stock's two most recent pullbacks from its seven-year highs have been captured by the 150-day moving average, which has provided support on the charts since January.

eqt sept 26

Despite its recent drop, EQT has seen popularity among options traders, call traders especially. In fact, the equity just showed up on Schaeffer's Senior Quantitative Analyst Rocky White's list of S&P 400 (IDX) members with the highest option volume over the past two weeks. During this time period, 117,641 calls and 91,109 puts were exchanged. The most popular position during this period was the January 2024 65-strike call, followed distantly by the weekly 9/30 38-strike put. 

mao sept 26

Calls have been the popular pick among options players. This is per the equity's 10-day call/put volume ratio at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) of 4.43, which sits higher than 72% of readings from the past year. 

Short-term options traders have taken a different stance. The stock's Schaeffer's put/call open interest ratio (SOIR) of 0.93, which sits in the 87th percentile of its annual range, implying that these traders are much more put-biased than usual right now. 

Short interest has been on the rise, up 7.9% in the last reporting period to make up 6% of the stock's available float. It's worth noting, however, that EQT has landed on the Short-Sale Restricted (SSR) list today. 


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