Chesapeake Energy Corporation (CHK) is an oil and natural gas exploration and production company that engages in the acquisition, exploration, and development of properties for the production of crude oil and natural gas from underground reservoirs. It also markets natural gas and oil for other working interest owners in properties it operate.
Sector - Energy
We are selling 3 of the September 42.5 Puts with a target of $0.75 per contract. There is support at $44.70 and then at $42.20 from the August 11th low. We are above the return goal of 10% while the price is 10% above the strike price.