Put Options on DO on 3/14/2014

Diamond Offshore Drilling (DO) provides contract drilling services to the energy industry world wide.

The company provides drilling services in ultra-deepwater, deepwater, and mid-water; and non-floater or jack-up markets.

Its fleet consists of 45 offshore drilling rigs comprising 33 semisubmersibles, of which 2 are under construction; 7 jack-ups; and 5 dynamically positioned drillships, of which 3 are under construction.

Its customers include independent oil and gas companies, and government-owned oil companies. 

Shares have fallen below a support level of $46.50, and lower share prices are expected for this stock. Energy prices took a hit on Wednesday and Thursday, which certainly isn't improving Diamond Offshore's prospects.

52-Week Trading Range: $43.95 - $73.19

Last Trade:  $44.39

Here is the trade: 

Trade Buy 1 April $45.00 Put at $1.75 For a net debit of $1.75 Profit/Loss Analysis Breakeven at $43.25 Maximum profit is unbounded Maximum loss is ($175.00) at strike of $45.00 Closing Summary Sold 1 April $45.00 Put at $0.00

Position closed on 4/21/2014 at price of $0.00 with a -100.00% loss in 37 days.

Back to Portfolio