The security plummeted after Maui's deadly wildfires
The shares of Hawaiian Electric Industries, Inc. (NYSE:HE) plummeted after the Maui wildfires that killed no fewer than 114 people -- the fifth-deadliest wildland fire in U.S. history -- broke out in early August. While HE rallied on Friday after filing a report with the Securities and Exchange Commission (SEC), it was last seen down 4.7% to trade at $13.12, carrying a hefty 68.4% year-to-date deficit after hitting an Aug. 17, record low of $10.05.
The equity recently appeared on Schaeffer's Senior Quantitative Analyst Rocky White's list of stocks that attracted the highest weekly options volume over the last 10 days. HE saw 113,570 calls and 234,582 puts exchanged. The August 10 put was the most active contract in that time period.
Short-term options traders have been much more bearish than usual. This is per the stock's Schaeffer's put/call open interest ratio (SOIR) of 1.92 that stands higher than 99% of annual readings.
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