Put Traders Should Take a Flier on Schlumberger Stock

Schlumberger NV (NYSE:SLB) stock has been climbing since mid-August, now up 1.9% to trade at $35.97 as it heads for its seventh daily win in eight sessions. A look at the oil name's stock chart, however, shows plenty of overhead resistance and the shares trapped in a channel between $32 and $36. In simpler terms, now is a perfect time to bet on a short-term drop. The recent price action has SLB running into pressure at the $36 level, which has put pressure on the shares since early April. Plus, the stock ha ...