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Slippery Slope For Marathon Oil Despite Earnings Beat

Marathon Oil Corporation MRO Wednesday reported second-quarter revenues and adjusted net income of $2.30 billion and $1.32 per share, topping analyst expectations of $2.07 billion and $1.26 per share, respectively.

On CNBC’s “Options Action,” Michael Khouw of Optimize Advisors said that Marathon Oil traded more than 1.93 times its average daily put volume on Thursday.

Check out other stocks making moves in the premarket.

There were buyers of 1,500 of the September weekly 24-calls at an average price of 81 cents per contract, Khouw mentioned. Traders see little chance of recovery over the next six weeks, he added.

MRO Price Action: Shares of Marathon Oil declined by 6.2% to settle at $21.47 on Thursday.

Photo via Shutterstock. 

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