Oil Meme Stock Draws Trading Frenzy in Out-of-the-Money Options
This article is for subscribers only.
A Texas oil company that’s been the subject of social media speculation in recent weeks is seeing an explosion in trading of out-of-the-money call options, indicating retail traders are betting on another big jump in the shares.
Ring Energy Inc. is an industry minnow, selling an average of almost 9,500 barrels of oil in the third quarter. It shares have doubled in less than two weeks.