Notable Put Options Activity in Hercules Offshore

Shares of Hercules Offshore

are higher on the session by 6.50%, currently trading at $5.41. The stock has been moving largely higher over the past three months and is currently trading above the 50-day moving average. Options traders are focusing on puts today. The strike seeing the heaviest action is the April 2012 $7.00 put, which has traded 2,100 times on open interest of 40 contracts. Put volume is outpacing call volume by 3 to 1. Hercules Offshore, Inc. provides shallow-water drilling and marine services to the oil and natural gas exploration and production industry worldwide.