Protection Purchased on Sempra Energy (SRE)
June 28, 2010 2:36 PM
Shares of Sempra Energy (NYSE: SRE) are higher on the session by 1.10%, currently trading at $48.77. The stock has been trading higher over the past few weeks as natural gas plays attract investors.
Options traders are buying a bit of protection today on the name. The July $45 put was purchased 4,400 times, on the offer, a short while ago; open interest on the strike is 2,320 contracts. This signals new, bearish positioning on the name.
Put volume is now running at 4.2x the daily average.
Sempra Energy is an energy services holding company. Sempra Energy has five segments: San Diego Gas & Electric Company, Southern California Gas Company, Sempra Commodities, Sempra Generation and Sempra Pipelines & Storage. SoCalGas and SDG&E sell, distribute, and transport natural gas. SoCalGas purchases and stores natural gas for itself and SDG&E on a combined portfolio basis and provides natural gas storage services for others. SoCalGas provides natural gas storage services for core, non-core and non-end-use customers.
