Notable Put Options Activity in GMX Resources
September 16, 2011 11:17 AM
Shares of GMX Resources (NASDAQ: GMXR) are lower on the session by 0.39%, currently trading at $32.90. The stock has been moving largely lower over the past three months and is currently trading below the 50-day moving average.
Options traders are focusing on puts today. A short while ago the January 2012 $4.00 put traded 2,300 times on open interest of 1,717 contracts. The Jan2012 $3.00 and $5.00 puts are also active.
Put volume is outpacing call volume by 500 to 1.
GMX Resources Inc. is a pure play independent oil and natural gas exploration and production company. The company is focused on the development of Haynesville/Bossier Shale and Cotton Valley Sands in the Sabine Uplift of the Carthage, North Field of Harrison and Panola counties of East Texas.
