Crude oil prices resumed their gains, with the commodity closing positive for the ninth session in the previous ten sessions. Shares of Schlumberger NV SLB closed slightly higher on Thursday, gaining over 7% this year, as the company is scheduled to release its quarterly earnings before the opening bell on Friday.
On CNBC’s "Options Action," Mike Khouw of Optimize Advisors said Schlumberger traded at more than 2x average daily options volume on Thursday.
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Options markets are implying a move of +/-4.3% when the company reports earnings.
There were buyers of 5,864 of the January 55-puts at an average price of $0.46 per contract, Khouw mentioned.
The trader expects Schlumberger’s stock pulling back post the release of quarterly earnings.
SLB Price Action: Shares of Schlumberger gained 0.4% to close at $57.38 on Thursday, and added 0.9% in the after-hours trading session.
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