Schaeffer's Sentiment Snapshot: Eagle Bulk Shipping Inc. (EGLE)

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Schaeffer's Sentiment Snapshot: Eagle Bulk Shipping Inc. (EGLE)

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^{Published on 2008-11-20 13:55:14}

CINCINNATI--(BUSINESS WIRE)--Options players have preferred pessimistic positions on Eagle Bulk Shipping Inc. (NASDAQ: EGLE) lately – a choice these bears are probably cheering today. However, we'll get to why these skeptics are likely all smiles in just a minute. First, let's discuss the sentiment surrounding the shipping issue in the options pits. Most notably, during the past 10 days on the International Securities Exchange, EGLE has seen nearly 3 times as many puts than calls bought to open. What's more, this ratio ranks in the 90th annual percentile, underscoring options traders' recent affinity for bearish bets.

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