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5,000 Vertical Call Spreads Trade as Comstock Resource, Inc. (Symbol: CRK) Reaches New 52-week High

5,000 Vertical Call Spreads Trade as Comstock Resource, Inc. (Symbol: CRK) Reaches New 52-week High

OptionWatch:

Posted December 12, 2024 at 11:00 am

Jeff Praissman
Interactive Brokers

This morning 5,000 Comstock Resource, Inc. (Symbol: CRK) March 21 ’25 20 / 25 vertical call spread traded for $0.80. Both legs were opening trades, and the delta of the spread is 20 equating to 100,000 shares. Looking at the prices of the individual option legs at the time of the trade the investor most likely sold the spread which translates to a bearish outlook, and they will profit from the premium minus commissions if CRK stays below $20.80 at expiration. CRK stock has reached new highs in the past few days so the investor may be looking for a correction in the next three months.

CRK is currently trading at $17.26, above its prior $52-week high of $16.96. CRK has a 52-week low of $7.09.

CRM is currently trading at $17.26, above its prior $52-week high of $16.96. CRM has a 52-week low of $7.09.

Source: IBKR TWS. Past performance is not indicative of future results.

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