NEW YORK (TheStreet) -- Shares of Chesapeake Energy Corp. (CHK - Get Report) are down by 2.45% to $14.72 in mid-morning trading on Friday, as some energy and related stocks decline along with the price of oil, which is falling due to a strong dollar.
Chesapeake, like other shale producers including Devon Energy Corp (DVN.N), has slashed budgets as crude oil prices collapsed, but a focus on making the drilling process more efficient and lower costs are enabling the companies to pump more oil.
Lately Chesapeake Energy Corp. (NYSE: CHK) stock has been getting some unwanted attention from short sellers. A lot of traders see CHK stock price weakness, and they want to profit from an anticipated fall.
What a nightmare Chesapeake Energy Corporation (NYSE:CHK) has become for those long the stock. I myself am long some CALL options that are absolutely worthless so I can sympathize with what everybody else must be feeling.