) are lower on the session by 4.86%, currently trading at $12.72. The stock has been moving largely lower over the past two months and is currently trading below the 50-day moving average. Options traders are focusing on puts today. The strike seeing the heaviest action is the February 2012 $12.00 put, which has traded 18,100 times on open interest of 20,509 contracts. Large lots are extremely active on the name today. Put volume is outpacing call volume by 4 to 1. McMoRan Exploration Co. is engaged in the exploration, development and production of oil and natural gas offshore in the Gulf of Mexico and onshore in the Gulf Coast area of the United States.