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Put Options on OII on 3/16/2015

Broken Support on OIIOceaneering International, Inc. (OII) provides engineered services and products primarily to the offshore oil and gas industry worldwide.

The company’s Remotely Operated Vehicles (ROVs) segment offers submersible vehicles for drilling support in the oil and gas industry; and subsea hardware installation, construction, pipeline inspection, survey and facilities inspection, maintenance, and repair services.

As of December 31, 2014, this segment owned a fleet of 336 ROVs. Its Subsea Products segment constructs various subsea hardware products comprising subsea umbilicals utilizing thermoplastic hoses and steel tubes; tooling, and ROV tooling and work packages; production control equipment; blowout preventer control systems; installation and workover control systems; clamp connectors; pipeline connectors and repair systems; subsea and topside control valves; and subsea chemical injection valves.

The company’s Subsea Projects segment performs subsea oilfield hardware installation and inspection, maintenance, and repair services; serves deepwater projects and shallow water projects; and performs subsea intervention and hardware installation services, such as subsea well tie-backs, pipeline/flow line tie-ins and repairs, pipeline crossings, umbilical and other subsea equipment installations, and subsea intervention, as well as inspection, maintenance, and repair services.

Its Asset Integrity segment offers asset integrity services to enhance the reliability and safety of their facilities onshore and offshore, as well as third-party inspections to customers in the oil and gas, petrochemical, and power generation industries; and first-pass integrity evaluation and assessment, and nondestructive testing services for the oil and gas industry. 

Shares have fallen to their 52 week low as the company's stck price is tied to oil prices. Lower stock prices are expected for this stock as shares have fallen through a major support.

 

52-Weeks Trading Range: $48.86 to $79.05

Last trade: $49.34

 

Trade

  • Buy 1 April $50.00 Put at $2.00
  • For a net debit of $2.00

Profit/Loss Analysis

  • Breakeven at $48.00
  • Maximum profit is unbounded
  • Maximum loss is ($200.00) at strike of $50.00

Closing Summary

  • Sold 1 April $50.00 Put at $0.00

Position closed on 4/17/2015 at price of $0.00 with a -100.00% loss in 32 days.

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