Puts Active on Abraxas Petroleum

Shares of Abraxas Petroleum

are trading lower on the session by 1.95%, at $3.01. The stock has been moving largely lower over the past five weeks and is currently trading below the 50-day moving average. Puts are active on the name today. The strike seeing the most volume is the June 2012 $5.00 put, where 1,330 contracts have traded on open interest of 2,675 contracts. Puts are outpacing calls today by 125 to 1. Abraxas Petroleum Corporation, an independent energy company, engages in the acquisition, development, exploration, and production of oil and gas in the United States and Canada.