Measured by stock options in the U.S., BP (NYSE:BP) could decline in value by 63 percent in the next 30 days, based on the rising cost to clean up the oil flowing into the Gulf of Mexico.
July American depository receipts for BP stand at $12.50, the biggest increase in open interest in a contract over the last couple of weeks.
At the beginning of the month it stood at zero, an now has surged to 33,445 outstanding as of today, according to Trade Alert LLC.
Investors buying puts are looking for a continued plunge, with that already happening today, as the stock price is at $31.49 as of 11:14 AM EDT, a $2.48 fall, or 7.30 percent.
The market value of BP was at $98.05 million.
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