Select Water Solutions Inc (WTTR) Options

So, yesterday was triple witching day

That is partial explanation for high volume at end of day. However, as noted earlier - there were 15 million shares traded. The highest number before that was 9.8 million on March 15 2024 (also triple-witching); next highest was 5.5 million one day in early 2024; there was a 4 million one day in 2020; and a 4 million one day in 2017. And 10 days in the 3 millions dating back between 2018 and 2024. All of the rest of the days dating back to 4/21/17 are less than 3 million. There are four triple witches per year. Something else is going on to explain yesterday's dark pool volume.

A brief triple witching primer and backstory
Triple witching, aka “freaky Friday,” originated in the 1980s with the introduction of stock index futures and options.

Unlike shares of stock, futures and options contracts expire, meaning they have a fixed lifetime. Impending expirations require market participants—in this case, mostly professional traders and money managers—to decide whether to exercise an option or let it expire, take or make delivery on a futures contract, or “roll” a futures or options position forward into a future month. That can all lead to a mad scramble, especially during the “witching hour,” the final trading hour (3 to 4 p.m. ET) of the triple witching day.

The convergence of the three expiration “witches” once every quarter effectively means that a bunch of buyers and sellers are all rushing to settle their positions before the closing bell. An oversimplified way to think about it is Black Friday shoppers mobbing a big-box retail store right when the doors open to grab a shiny new flat-screen TV.

Historically, triple witching days have been associated with elevated market volatility and sharp price swings, according to an article from Nasdaq, one of the top stock exchange groups. During triple witching, a confluence of factors “creates a complex market environment ripe for volatility.” Although market impact can vary from year to year, triple witching days “have consistently contributed to heightened trading activity and market turbulence,” the exchange said.

Yahoo showing 15 million traded today

Either all shorts covered (their were 7 million shares short on 2/28) or big institutional buy (Yahoo says 94% institutionally owned; NASDAQ has 91%)' likely some combination.

Five million shares showing up after hours.

Didn't move the needle. Must be dark web sales or something.

Energy market should get goosed this week

Biggest energy conference of the year starts tomorrow. Two Cabinet Secretaries (Energy, Interior) and the EPA Administrator, and many private sector luminaries will speak. The message is going to be Get drilling and don't worry about regulations.

https://www.ceraweek.com/en/speakers?speakerTier=speakerTier217

87% institution-owned and on the move.

WTTR red NES deep green

https://ih.advfn.com/stock-market/AMEX/nuverra-environmental-so-NES/stock-news/86792331/select-energy-services-enters-into-definitive-agre

Wow I forgot Select went public. I used to work for them, and I havent checked back in on them in a while. Gonna look through their filings.

What is everyones opinion on this?

https://www.bloomberg.com/news/articles/2019-05-17/fracking-water-provider-select-energy-is-said-to-consider-sale

Not sure if anyone else saw this article last month, good insight into the industry. 2019 should be a great year.

https://www.marketwatch.com/story/oilfield-services-stocks-are-about-to-stage-a-big-rebound-credit-suisse-says-2018-01-03

Peace out.

Looks like we are entering into a sweet uptrend, loving it.

Looking forward to earnings call here. Liking the news out today nice 8-K 2019 gonna be sweet.

Peace out.

WTTR 10.19

I am back in this deep value play.....gulp.

Ouch...but picked up some at 13.70 here for the long term. Believe WTTR to be very oversold in light of the increase in activity expected later this year and 2019. Couldn't resist.

Hearing rumors that Select picked up a large amount of business from EOG Resources.

Not sure if it will be reflected in Q2 earnings.

But Q2 will be a quarter that should surpass most estimates.

Looking for the report around the 1st week of August.

Select Energy: Q2 Shaping Up To Be A Blowout

https://seekingalpha.com/article/4186846-select-energy-q2-shaping-blowout

Select Energy: A Misunderstood And Deeply Undervalued Energy Franchise With A Wide Moat

https://seekingalpha.com/article/4186846-select-energy-q2-shaping-blowout