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5,400 Puts Trade in Ovintiv Inc. (Symbol OVV)

5,400 Puts Trade in Ovintiv Inc. (Symbol OVV)

Posted November 22, 2023
Jeff Praissman
Interactive Brokers

This morning 5,400 Ovintiv Inc. (Symbol OVV) January 19 ’24 39 puts traded at $0.82, mid-market between the $0.75 bid and $0.90 offer.  The puts are a 20 delta, so the trade is the equivalent of 108,000 shares of stock. At the time of the trade OVV was trading at $43.26.

The open interest at the time was less than 200 contracts so the trader is taking an opening position. They may be protecting a long position from a downside move or speculating that OVV will decline over the next two months.

OVV is currently trading at $43.53. OVV has a 52-week high of $56.04 and a 52-week low of $31.81.

OVV is currently trading at $43.53. OVV has a 52-week high of $56.04 and a 52-week low of $31.81.

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