Stock Option Investment Advice

Nobel Drilling’s Stock Options Volume is Up

Nobel Drilling’s (NE) stock options volume is significantly up today and its stock price is down about 6%.

Noble Drilling is in the business of providing drilling services for the oil and gas industry. Noble has over 60 offshore drilling rigs including semi-submersibles, drillships, jackups and submersibles.


Noble’s competitors include: Diamond Offshore Drilling (DO), Nabors Industries (NBR) and Transocean (RIG).

Nobel’s stock price is up about 100% from its low price in December of 2008 and well off of its two-year high price in the upper $60 range. Nobel’s current stock price is near its previous support level in the $40 range which occurred around the first of November 2009.

NE Chart

Noble’s November, December and January call option and put option volume has been significantly high today with higher volume for the put options. The November put option volume is interesting as the November stock options expire today and the November put options with high volume are in-the-money, so apparently somebody wants to acquire a large amount of Nobel’s stock by having it assigned to them via the put options.

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Noble is a good company with great prospects now that the price of oil is over $70 a barrel. A covered call investing position for Noble for December is worth considering with a potential return of 5% and with a time frame for realizing the profit of only 29 days. The December 39 call option is of interest with a ticker symbol of NELN.

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To enter the covered call investing position an investor would purchase the stock in multiples of 100 shares for their trading portfolio and sell one call option for each 100 shares of stock purchased for their personal stock portfolio.

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[tags] oil and gas industry, semi-submersibles, drillships, jackups, submersibles, DO, Diamond Offshore Drilling Inc., NBR, Nabors Indus. Inc., NE, Noble Drilling Corp., RIG, Transocean Offshore Inc. [/tags]

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