Given NBR's flat volatility term structure and negative outlook, a Bearish Long Volatility strategy fits well. Buying put options while selling further OOTM puts takes advantage of expected downside, backed by prevailing market sentiment and recent trading data insights.
Assets that tend to move strongly with NBR
TXT Textron (0.8)
ARVN Arvinas (0.78)
IOVA Iovance Biotherapeutics (0.76)
KOLD ProShares UltraShort Bloomberg Natural Gas (0.76)
JOE St. Joe (0.76)
Assets with little price relationship to NBR
BA Boeing (-0.0)
RPM RPM International (-0.0)
TWO Two Harbors Investment (-0.01)
CCK Crown Holdings (0.01)
TFC Truist Financial (-0.02)
Assets that tend to move strongly against NBR
BB BlackBerry (-0.69)
V Visa (-0.75)
VNET VNET (-0.75)
TPR Tapestry (-0.75)
CNP Centerpoint Energy (-0.78)
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