DO scheduled the ER on Thursday July 22. Whisper is $1.77 per share. Consensus is $2.79 per share a year ago. It seems the company performed worse this year. (Bearish)
This morning, DO down 1%, now the price is around $62. It is trading below its 20- day, 50 day and 200 day MA. As i estimated, if the price breaks 60, it s a free fall. Some traders are trading PUT at 50- 55 price range (vertical spread), which mean they can maximize the profit if the DO can trade at the strike price. ($55).
According to the web, we also have to look into other companies in the same industry for their performance. PBR, the largest one, weak, trade below EMA (20,50, 200), as well as RIG.
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